This is in continuation of the earlier post on (15/10/17). In this it was stipulated that the Nifty is in wave 3 which may complete near about 11000. Now it appears like Nifty may be forming an ending expanding diagonal to complete wave (v) of v of 3 (refer earlier post for counts). The detailed counts for wave v which started in Feb 2016, are shown below. However it is to be noted that it is not given that this will indeed turn out to be expanding diagonal and there will be a wave e. 5th waves are deceptive and extreme caution is called for. It is time to sell the rallies.
Also of note is that the prices are touching the upper trend line of a long term channel.
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