Long Term: In the long term, the key observation is that NIFTY seems to have broken 1.618 levels from Wave 2. My view that the NIFTY is in the Wave 3 continues to hold. The next target is around 12,000 levels.
Medium Term: In the medium term also, we seem to be in the third wave. It could take us upto 11,800 levels.
Short Term: In the short term, we are either in the second or the third wave. I like to believe that it is this wave. We could be hitting 11,400 levels. I would be proven wrong if the market falls sustainable remains below the wave marked as (ii?)
How would I trade this? But at market open on Monday. Stop Loss 11090 ( Rs . 8096.25 from Friday's close). Profit Target 11380 ( Rs . 13653.75 from Friday's close).