Currently we are right into the and the channel support at 10015-10040. If the market rebounds from this level, 10070 would be the key area to watch out for. Bulls would be little confidence after holding above this 10070. Immediately above this area is a 25 points . If market still holds then we might see a range bound action with in this zone for some time, before heading higher. On the other hand, if bears are strong in this area (10075-10100) then supports could be tested again.
On the side, if market breaks the channel and the today (10015) then it may head lower to the target of 9950-9960.
Let's see how the price action unfolds.
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As mentioned in the above post, there is a possibility that this (5)th wave ends with a complex topping pattern. Perhaps a 3 drive pattern (not confirmed yet)..see below