As sharp Correction on 11-05-2013 after previous week 5 sessions selling and intraday charts of yesterday also showed selling formations therefore correction was expected but RBI governor sparked rate cut hopes and rally seen in Bond and Stock markets. Although today rally is without previous sessions consolidations and on the other hand selling also in previous sessions but Bull markets consolidate at higher levels after such positive news flow therefore strong rally is being seen today.
Impulsive Wave-5 is on and correction will be possible only after complete selling patterns formations,let it happen then then correction will be considered otherwise rally will remain continued.
Impulsive Wave-5 is on and correction will be possible only after complete selling patterns formations,let it happen then then correction will be considered otherwise rally will remain continued.