Nifty Intraday Update

The morning video discussed hourly averages which appeara broken as of now. What does it mean. Watch out for a weekly close abelow 11214 and a daily close below 11172, both would confirm a correction back to 10900-10800 before we go higher. It would mean that wave 3 completed in a truncation, where wave v of 3 did not to the expected levels and ended early. Failure of move. Wave 4 would follow that could even develop as a triangle in the coming days. The chart below shows the levels if the above happens.