NSE AAVAS accomplished wave (5) of wave C at 1698 and started an impulsive cycle from the parallel channel's lower band. Prices are forming into the downtrend channel, and wave (4) breakout can give a steady uptrend for bulls.
Fibonacci Clusters:
1) Cluster range of 1749 - 1738.6. Trend-based Fibonacci extension of 0.5 at 1749, and 1.618 reverse Fibonacci of 4th wave at 1738.6.
2) Fibonaaci externtion of 0.618 at 1683.6.
Trading Plan:
If the price sustains a cluster range of 1749 - 1738.6, traders can trade for the following targets: 1835 - 1885 - 1945. Safe entry is possible after a pullback.
Invalidation: Below wave (5)
Fibonacci Clusters:
1) Cluster range of 1749 - 1738.6. Trend-based Fibonacci extension of 0.5 at 1749, and 1.618 reverse Fibonacci of 4th wave at 1738.6.
2) Fibonaaci externtion of 0.618 at 1683.6.
Trading Plan:
If the price sustains a cluster range of 1749 - 1738.6, traders can trade for the following targets: 1835 - 1885 - 1945. Safe entry is possible after a pullback.
Invalidation: Below wave (5)
Trade closed: target reached:
Price reached first target of 1835.
