After a massive 600+ points rally, from the bottom around 3916 to todays high at 4560 around,, markets needed atleast a pause,but the continued selling pressure dragged the indices down much more,,signalling it might not be only a pause,but it may be the case that the higher BOTTOM process has begun.
Readers should take note,that as on today ,i am taking the current rally, upto todays high, as a
new move ,instead of only a corrective rally.so not enering into the complexity of various elliott wave counts, and keeping the process of analysing markets very simple, i will suggest that the process of higher bottom formation is on..4379 for nifty was one high, which was crossed and has supported today ,so now once below this nifty has strong supports at 4309.
i would let the markets decide ,instead of me guessing ,where it wants to make a higher bottom.
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