This is the nifty hourly chart



Nifty closed at 7704 today. The rally begun from the date of union budget after testing 6830 and jumped all the way till 7704 today. Till 7450 all were bearish and now at 7704 all are so damn bullish.

FIIs are buying everyday ......that is a good new, but do not forget they are equally fast to sell as they are to  buy.

Market is on the verge of 5th of the 5th wave as shown in image above (hourly chart).

Now it is the waiting for the corrective wave A to begin......for which we may not  have to wait so long. Nifty has made a breakout from the expanding triangle which most probably could be  fake breakout  .
volume has not shown much of a zeal too.

However it all depends on how much open position are left with buyers and blank sellers . 

If market corrects it can drag down to 7270 level and may close around 7350 month on month basis.

Only time will tell 
Market is subject to risk 
Market is subject to sentiments






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