NIFTY LEVELS FOR 16 th AUGUST

My Target for Nifty is 5476 and 5491. Target 1 reached on Friday.
If opens flat on Monday, Certainly Nifty will touch 5491 from 5435-5445 levels.

The Wave counts clearly show that we are on the verge of Major trend Reversal. Be cautious with your longs.

India Volatility Index has bottomed out. This certainly tells that we are on the verge of a reversal. As you all know the present pattern is Ending Diagonal Pattern. The rising ending diagonal is usually followed by a sharp reversal atleast to the level where it began and typically much further. It begins at 3918. I have asked several Wave theory experts. Everybody is convinced that trend reversal is very near.

Go short in Nifty when Nifty spot reaches 5491.
If you need a stoploss put it at 5512.

My first target for Nifty is 5267 (within a short span of time)
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