If alt count is applicable then a good buy zone would be .786 retracement (ie wave ii of the impulse) as wave (i) would be the longest wave in the impulse . So it will correct to the wave (ii) of the impulse 8059 . If main count is applicable then expect a new low .
Daily RSI is at 59 in a bear resistance zone of 55-65 so another zz seems less probable . Idea is for longs to up their SL . Wait for market to give a sell signal
yvatsji
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The pattern you are showing wxy is in complete it will go to wxyxz. Pl see this probability also.
slkentp
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y not point be x? and we are running last c 5 wave?
AJAYSHARMA
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@slkentp, Since we are running in w5 territory it is best for the market to show us the next move . As w5 territory is treacherous for long positions and may reverse fast .
omershrff
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8900 good support I think..sir
AJAYSHARMA
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@omershrff, If this is an impulse previous wave 4 ie about 8900 would be a good level for a pullback.