Nifty Gave a Break out on 10th Jan, 2012 on a Bullish Wolf Wave.
Ref to the above Chart marked with (1)(2)(3)(4)(5).
As per Yesterday we touched the Line as drawn on Chart and achieved the Target 5542.1
Today Nifty formed a Harami Inside Candle - which I feel it may be a Trend Reversal from here.
Also as per EW - if Nifty is forming a Irregular 4th Sub wave, then we might have finished (B)as marked with Yellow color.
Inside Wave (B) - sw C has almost Re-traced 350% @ 5542.1 of sw A.
Now Nifty should fall for swC on the downside.
On the Contrary if Nifty breaks above the Wolf Wave Line - then its Sure that we are heading towards a New Bull Run.
Lets Wait and See...
