Intra move was a classic example of perfect wave formation. Extended C reached 4194 and bounced upto 4276 (BC=AB*1.618), which was top of wave 2 also. Now The move is critically poised, A move beyond 4275/80 can bring 4330 as discussed earlier, but wave structure wise it can very well target 4134/25 also.
A failure to break 4275/80, can bring Nifty to the real big level of 4126/34. And decide further move.
A 4122/34 support on the lower side from higher wave corrective, making that place a big time important.
Supports: 4205.. Below that it can be weak and target 4183 and 4134/22 level, which is real big for bulls to hold.
Resistances: 4248 .. above that again 4275/4280 will tested and further move can bring 4329/40 level.
A failure to break 4275/80, can bring Nifty to the real big level of 4126/34. And decide further move.
A 4122/34 support on the lower side from higher wave corrective, making that place a big time important.
Supports: 4205.. Below that it can be weak and target 4183 and 4134/22 level, which is real big for bulls to hold.
Resistances: 4248 .. above that again 4275/4280 will tested and further move can bring 4329/40 level.
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