Long Term: In the long term, we seem to be in the 5th wave. This should take the market to around 12,600 - 13,800 levels. Planning to track this in more detail once we are around that price level. The covid decline was Wave 4 and the great recession was Wave 2.
Medium Term: In the medium term, we seem to be in the third wave of the third of price increase after covid decline. That implies a market. The third wave within the third wave seems to be an extending one . That means that it should take the prices to around 12,050 levels. Again we will analyse more detail when we are closer to the levels.
Short Term: In the short term, the internal wave seems close to being over. What that means that in the very short term, prices will decline and then rise to around 11,400 levels again.
How will I trade this? I will place the buy order at 10,830. Profit at 11,400 (profit of Rs . 42,750). Stop loss of 10,500 (Loss of Rs . 24,750).