As plotted on the chart, wave v of wave (iii) is under progress ... Expecting the same to complete at the resistance zone marked on the chart (11730-11740) ... From there, expecting a correction till the support zone marked on the chart (11560 - 11540) ... For Monday, expecting a gap up opening, followed by a rally till 11740 and probably wave a of the corrective wave.
Kommentar:
As told, Nifty corrected till 11540 ... Not expecting any more down movement from here hence avoid taking short positions