Based on latest prices, trade plan needs to be fine tuned. Prices have closed above 10Sma 11766 & 50Dsma-11280. In the current scenario, 2 possibilities exist:-
- Prices are rallying up in “B”wave within which “a”wave done from 10670 to 11695 and “b“wave is done @ 11090 & the “c“wave unfolds towards 12000 to complete this “B“wave, holding above 11880.
- Corrections done @ 10670 and Prices are impulsing up in a new uptrend with a 1st wave done @ 11695, the 2nd wave done @ 11090, & the 3rd wave is unfolding as long as prices are kept above 11450.
If Ending diagonal , it must keep below 11979 OR a running correction is unfolding if kept above 11820 OR ???.
If holds 11885-895, strength would return towards 11935-950 & above which 11975-990.
If held below 11935-950, weakness would continue towards 11885-895 & below which 11820-840.