Nifty – The minute 5th wave extended. Markets in overbought territory. However further extension cannot be ruled out, which we can only come to know in intraday.
Given the best plausible count above.
Caution to the bullish scenerio unfolding of the upmove
At times the 5th wave of a seeming impulse move converts into a 4th overlapping wave . However this possibility of the whole upmove being a corrective wave can be only seen AFTER the current wave corrects.
Will try to give intraday for same
NIFTY Opening On 16th Nov 2023