Based on latest prices, trade plan needs to be fine tuned. Prices have closed above 10Sma 11804 & 50Dsma-11300. 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 is almost done @ 12003 , holding above 11925.
- 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 11500.
A running correction done keeping above 11820 (low @ 11850) & a new uptrend unfolding with a first 5 done; now, keeping above 11925 or 11890-910, it would be a simple correction; breaking it, there would be deeper correction towards 11800-.
If holds 11940-950, strength would continue towards 11985-995 & above which 12015-030+.
If held below 11985-995, weakness would return towards 11925-935 & below which 11880-895.