As part of progressing wave 04 of C, last week we had expected Nifty to decline, and decline she did.We had expected Nifty to take support somewhere between 5241 to 5273.On August 31, Nifty went down up to 5238.90 and closed at 5258.50.If Nifty improves past 5300, on Monday ( September 03) or Tuesday, we may conclude that "( a )" section of Wave 4 to have been done away with.Our expectation is that wave ( b ) will commence upwards this week.Or is it? Have a look at the wave count chart..
September03 and 04 should decide for us.
Here is a look at retracements:
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