Nifty momentum is not given up till today. A new high above 5952 likely answer lies in 1 min chart.
Negative divergence on 1 min about to appear for the move from 5920 once nifty goes above 5952 (seems 4th wave in progress; 5th about to occur which eventually give divergence).
One degree higher (ie. A.y) negative divergence is visible in 3 mins for this wave from 5802.75.. (ie between Y.a and Y.c)
One degree higher 12 mins (ie move from 5663) which posted higher reading (which generally occurs during 'A' in ABC wave) . So nifty might be doing A in progress..
Hourly chart posted extreme reading implies (B).A in progress... (B).B and (B).C will come in this (B) wave.. Range bound between 6112-5663 likely for the next two weeks..
Critical level to be watched 5970.35 during upmove is prior as mentioned by WWji.. If this level taken out Zig Zag probabilty questionable..
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