Technical Analysis and Research of EOD charts,Technical Positions,next possibilities have already been explained in following 4 topics with 4 Charts therefore not being repeated:-
1- Most Bullish Island Reversal & 2 other Bullish Pattrens
2- Indian markets Waves structure from 2008 Crash to 28-Oct-2011
3- Wave-4 'ABC' Correction completion on 28-10-2011
4- Wave-4 correction completion at 61.8% Fibonacci Retracement level
Nifty-Intra Day Chart(28-Oct-2011):-
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1- Consolidation between 5323-5345.
2- Minor selling between 5350-5265.
3- Whole day trading between 5323-5365.
Conclusions
Huge gap up and after that both consolidation and minor selling was seen between 5323-5365 on 28-10-2011. As sentiment is heated therefore voltality after minor profit booking may be seen today but expected that Nifty wil firstly trade between 5310-5370 and finally sustain above 5323 and raly will remain continued.