1. To confirm the 5th wave downwards we are seeing ... a. Fibonacci retracement at 0.5 % level of the range (previous rally) b. Guppy fast moving averages have touched the slow moving averages and are seen to be coming down. c. The target could be 1.27 levels of the range along with the Fibonacci time extension.
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In view of the RBI Repo rate change which is likely to boost liquidity in the market there might be a sudden surge in the chart. A sudden effect may however not last longer. First decide about where to keep your Stop-losses before you initiate a trade.
Trade closed manually
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Facebook has bought a 9.9% stake in Reliance Jio for $5.7 billion. Reliance trading SL has triggered.