Hi,
In a couple of posts before I was thinking about a possibility of another high after the momentum was lost in the downside. However that turned out to be small rally and the downtrend is so far intact. The wave labels have been changed as to what I think we are currently in. Today Nifty touched its 38.2% retracement and turned down.
The earlier supports are the current targets as the trend remains down so far. The end of C is marked near 100% of A.
Varun's Tech View 