The market started wave A in march 2012 and the complete count till wave C in june2012.
After making a low of 4760 in June 2012 the upward ABC count seems to be started.
wave a = (4766-5350 = 580 approx)
wave b = (5350-5026 = 320 approx)
now wave c is forming a 5 wave structure and the possible target is any one of these:-
wave a * .618 = (5020+360 = 5380)
wave a = wave c (5020+580 = 5600)
now if market sustain the level of 5380 where it have closed today then more upside can be seen...
but if one look at the sub-wave of C wave then wave 1 is equal to wave 3 (ie approx 220-230)
so wave can be sub divided into 5 wave structure to reach 5600!!
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