The RED LINE should provide significant RESISTANCE. that should be touched around 5610 tomorrow.
This looks like a correction to the previous 5 wave - UPMOVE . So we completed A. B is in progress. Then we should be coming back for C. Todays QE3 speech by Bernanke have added fuel . So just not sure how high this might GO. the GAP is very near to todays CLOSE 5585. If we touch 5601 , GAP closed. I added that BLUE line as well. The intersection area of the RED line , BLUE line and the upper PINK channel should have enough fire-power to stop the NIFTY . 50% retracement of the recent DOWNMOVE is at 5618. The same area.We will see tomorrow.
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