In the 5 min chart Nifty appears like making a final 5 waves of the 'C' of [iv] wave up.
This minor 5th wave appears like making an ending diagonal, of which a-b-c-d are completed and the final 'e' is pending. This 'e' might or might not reach the converging trend line and break in the down side. If this is not breaking the upward trending (lower trend line) before lunch time on 23-02-2016 then we can consider that the above view is negated.
Nifty 5 min chart for 22-02-016:
This minor 5th wave appears like making an ending diagonal, of which a-b-c-d are completed and the final 'e' is pending. This 'e' might or might not reach the converging trend line and break in the down side. If this is not breaking the upward trending (lower trend line) before lunch time on 23-02-2016 then we can consider that the above view is negated.
Nifty 5 min chart for 22-02-016:
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