Intraday Update

Movement during the day is somewhat indicative that we are experiencing an X-wave rather than an impulsive 3rd.  Hence if 5240 -5300 holds for Nifty upto Monday one may look for the up move back to the recent highes or more.

Sustaining above 5423 Nifty Future will go to 5480/90 which is a probability by today second half.