|Hourly EW Chart|
Nifty tanked and how! Yesterdays rally created doubt in my mind, but with small adjustments we can resume with our original count. With 100% target of wave (1) - (3) for wave (5) we get a target around 5120. And by equality guideline for wave [c] = [a], we get the target levels around 5040. If we become very bearish, and start going below 5000 levels, we might be in for some very deep corrections.