Based on latest prices, trade plan needs to be fine tuned. Prices have closed above 10Sma 11877 & 50Dsma-11345. In the current scenario, 1 possibility remain:- (Unless Mkt changes direction breaking key level)
- 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 “11550″.
Within the 3rd wave, the first wave with its 5 sub-waves done from 11090 to 11989:
- Deeper correction done @ 11890.
- Much deeper correction follows if kept below 12020 & breaks 11900
If holds 11890-11905, strength would return towards 11950-965 & above which 11990-12010.
If kept below 11950-965, weakness would continue towards 11840-855 & below which 11805-820.