NIFTY DAILY CURRENT MOVE

Earlier fall on Nifty took 34 days to complete the move.I have marked the same on chart.Now in this counter trend move we have crossed 13 days.So the next fibo no comes to 21 on 26.09.2011.Also watch the channel marked where we are in the lower half of it currently.Expect momentum as and when we cross in to the upper half.Also we had a move of 400 points in wave A and wave B retraced 61.8% aprox.For wave a = wave c scenario we have 4900 + 400 = 5300 approx.If this move develops as a triangle then we may see more drama.!
Happy Trading!