In our December 14 post, we had hinted about indecisiveness in Nifty movements. Well, it turned out that a triangle has manifested in the 15 minute chart. The most interesting question is whether wave 2 of 5 has been completed? We will know if Nifty makes a faster bullish retracement out of the confinements of the triangle.If so, that could be the beginning of the third wave of 5?
If Nifty breaches 5880 tomorrow, we can reasonably be sure about 3 of 5.