After a great dip of March, market has risen sustainably and distribution has been done systematically. X-X, Y-Y and Z-Z phase distributions we can see. After this a probable big correction, we can see, which will be inevitable above the trendline. One can see blue candle crossing the trendline giving the confidence to the market and we have seen another distribution around 12000. Yello candle in formation at the present level (around 11600), one can see the uptrend here, and then final distribution at 12000, 12100, 12200, 12300. We may see 12400 but it is less likely and market will correct heavily from these levels.
DONT U THINK ONCE IT REACHES 12430 ATH IT MAKES AN INVERSE CNH !! CHK IT OUT
Market_Crux
⋅
@marintexengineers, It may touch 12430, as I suggested in my writeup it is less likely to touch 12400 or above, as bearish sentiment will drag it early. No dought market is always unpredictable, anything can happen here, let's see how it will go.
msadiqsalman
⋅
great analysis sir! can you please update as to how much can be the fall ?? what will be the resistance levels?
Market_Crux
⋅
@msadiqsalman, If there is correction then quick support is 11560, later 10800 is great support. If it breaks 10800 then we can expect the levels 10570, 9500, 8,800. Rebound can happen from any of these but if it breaks 8800 then there will be last hope around 7500 only.