I told more than 10 times in last 1 year that wave 3 is on and its minimum target is at 6359.
Last 15 sessions daily charts are indicating that rising wedge formations is under construction and its target is less than 6318.
I clearly mean to say that this posibility should be kept in mind that it is the demand of rising wedge formation that correction may start below 6318. If intraday charts of coming sessions shows distribution patterns then begining of correction will be considered because heated in overbought zone residing indicators are showing divergence also. Now rally is very much on and uninterrupted upmoves will be expected also and if selling develops within 6280-6318 then rising wedge implications will be discussed in details.
I am cautioning near the top of rally with this intention that euphoria develops in such type of situations of all time highs and people starts buying highly and trapped. Be careful,remain cautious and trade with appropriate stop loss. If selling formations will develop then I shall inform well in advance. Rising wedge formations will be kept in mind and final conclusions will be conveyed well in advance.
Expected that Sentiment will be heated today morning and Indian markets will trade almost whole day in positive zone after gap up opening but profit booking possibility will not be ruled out today. 6280 should be watched and if Nifty sustains above it in the coming couple of sessions and cross 6318 then new top formations will be seen without even any very short term correction.
All opening to closing expected in Green.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
