Please note that price is in support zone, so volatility is expected.. So, please dont consider this view for trading F&O
Primary and Internal wave counts are marked in the chart on daily and weekly TF.
Price is still in primary 3rd wave and the iv of 3 is in progress now. Price has bounced from 933, which meets the 38% retracement criteria for 4th wave.
But, the down-move looks incomplete (on counts), moreover, it is one way decline..
My view is that price could make one low to take support at that breakout zone, also the 50% retracement level at 820 as explained herein.
850-950 looks to be the accumulation zone for positional investment and the v of 3 could end anywhere above 1400
Long term view:
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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