1277-1346 Break above or below going to decide further course

If breaks above 1346 then can rally up to touch 1450-1500 where red parallel channel will act as resistance. This will mark the completion of wave 5, if the same is already not completed.

If breaks below 1277 on weekly closing and 1235 on daily closing then 1045 and 859 could be the min. targets that can be expected.