Looking at the current market condition it is very clear that the top of wave B is completed here & also today big red candle gave us the indication that it is going for the wave C
-in the downside wave C projects minimum around 61% so first target would be 17511 which is minimum projection & after that it can retrace till 100% (17257) - 127% (17100)
-Yesterday's analysis of wave 5 on 15 min chart was invalidated & ABC correction is formed
-Form now on till the wave C is completed i am bearish on market & after that we will see new waves which will target All time High & will drive markets to new highs hopefully :)
*This theory gets invalidated if today's high is broken*
Ideas for profits which i am considering : one can buy OTM puts for the next month expiry & square of positions when targets are archived on the spot chart
Disclaimer : this is not recommendation or tips this is my personal view for the markets & i am not SEBI registered analyst.
-in the downside wave C projects minimum around 61% so first target would be 17511 which is minimum projection & after that it can retrace till 100% (17257) - 127% (17100)
-Yesterday's analysis of wave 5 on 15 min chart was invalidated & ABC correction is formed
-Form now on till the wave C is completed i am bearish on market & after that we will see new waves which will target All time High & will drive markets to new highs hopefully :)
*This theory gets invalidated if today's high is broken*
Ideas for profits which i am considering : one can buy OTM puts for the next month expiry & square of positions when targets are archived on the spot chart
Disclaimer : this is not recommendation or tips this is my personal view for the markets & i am not SEBI registered analyst.
