Short Term: In the short term, It seems to me that the third wave has reached its culmination. The first leg of the fourth wave also seems to be have been done for. And this leg looks like a 5-wave leg. So this is a . Which means that the third and final leg of wave iv can go as low as 12515- 12606.
How will I trade this?: We lost around Rs . 600 in puts that we could not exercise. I again recommend that we buy puts on Monday when the market opens. Strike price of Market Open. Exercising Put option at 12515, i.e. profit of Rs . 24,825 at the option price of around Rs . 300-500.
As always. I can be right. I have been wrong in the past few weeks. I am always learning. Please trade at your own risk.