| TIME | TARGET | TREND | REVERSAL | TIME |
| Short term trend | 5942 | Up |
5660 | 2-3 weeks |
Nifty closed negative today. Did the V wave impulse finally complete at todays low remains an open issue. At 78.6% retracement of 5666 I still would like to believe so. A break below 5660 would take us down to 5550 as the next best alternative. Positive divergences showed up on the hourly chart and a triangular structure could show up in the vth wave. A 61.8% retracement of the entire fall puts the target potential for wave 2/B at 5942. A move that far would fill the gap left behind on 21/02 when the vth wave started. Such an up move could take anywhere between 1-3 weeks.
Target acheived today nifty closed at 5954 , after making a high of 5954 . positional players can hold longs for a target of 6020 / 6090 till expiry .
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