MCX - Do you still want to chase FOMO?

2 days ago

CMP: 6920
TF: Daily

The current impulse from 2917.85 is on the fag end of the 5th move, and it could end/terminate anytime.

Divergence seen on daily, although another 5-10% move on the upside cant be ruled out.. But be sure if you want to chase the price at this level just because of the latest price action moves.

Just so can see, larger degree 5th is also in play now.. so, once this move is over, the pullback will be a bit deeper (retracing the entire move from 1140 level to 7K levels)

Waves 0-1-2-3-4 Path with internal counts



Investors - Trail your SL with tight SL

Traders - Dont jump, better to wait for the right opportunity (significant weakness followed by a bounce is the ideal time to go short)

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.