It seems to be correcting in a wave iv of 2 lesser degrees . But since the wave iv is very sharp it seems to a just wave A of a very long time consuming triangle in the future . Where will this wave iv end , most probably it should be supported by the base channel . Kindly note this correction should not go beyond 0.618 .
@ajaymutreja673, Its only means that till it does not go below 0.618 it just becomes a trading stock v/s investment stock . Any fast pullback would be a bailout opportunity for longs.