POSSIBILITY 1:END OF DOUBLE CORRECTION EXPANDED FLAT WXY OR BEGINNING OF WAVE 5
WAVE 4 TARGET OF EXPANDED FLAT WXY CORRECTION HAS BEEN ACHIEVED.PRICES EXTENDED TILL 161.8% OF WAVE WAVE W IN WAVE Y AND HAS REVERSED.INITIATE LONG CMP OF 308 IN SMALL QUANTITY AND ADD IT ON EVERY DIP OF 1.5%, WITH STOP LOSS 288 AND TARGET OF 380 CONSIDERING WAVE 5 TO BE OF EQUAL LENGTH AS THAT OF WAVE 1.
POSSIBILITY 2:CONSIDERING THIS AS AN WXYXZ CORRECTION.
IN THIS CASE ALSO A BOUNCE TILL 347 IS POSSIBLE CONSIDERING LENGTH OF BOTH THE CONNECTING WAVE TO BE EQUAL.INITIATE LONG 303 WITH A SL 290 AND TGT OF 347 FOR BETTER RISK REWARD.
STOP-LOSS LOGIC 1)PRICE HAS TAKEN GAP(282-290) SUPPORT. 2)CORRECTION TARGET OF 291 HAS BEEN ACHIEVED.
INITIATING LONG LOGIC
1)CORRECTION TARGET HAS BEEN ACHIEVED. 2)BULLISH HAMMER CANDELSTICK PATTERN ON DAILY CHART WITH GOOD VOLUME 3)GAP SUPPORT AT FRIDAYS LOW.