As expected, Nifty opened gap down, completing Wave v .. Thereafter, Nifty spent the entire day correcting ... The correction pattern appears to be flat with Wave a and b already completed ... Wave c is in progress ... Expecting Nifty to open gap up somewhere between 11730-40 or if it opens flat, expecting a rally till the mentioned level, completing wave c ... From there, it should move down .. However, be cautious as the correction may unfold as a complex one thus keeping Nifty range bound .. Look for break of support as marked on chart to ascertain completion of correction and commencement of next impulse .. Important time zones would be (0945 - 1000 hrs & 1415 hrs)
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