did nifty topped

7 thg 6

as for as wave principle is concerned the recent high at 23587.5 in futures is at top since its inception.that level completes 5th wave at 5 degrees, so completing wave one of cycle degree.the collapse in wave a or 1 of next leg of correction to its previous 4th wave area indicates beginning of long term correction.on an hourly basis the precent pull back which may touch 23050 will bw wave b,hence it implies that next leg will be downwards in wave c in a shallow manner.that will take price to at or below 21050 levels.
no method is perfect in stock market,we have to analyse the market as and when new price is dynamically and constantly being put by the market at all degrees of trend.