The markets closed at 10760 down from a 52 week high of 11172. Let us look at the technical analysis.
1. Wave 1 from 9687 to 10490 a gain of 803 points.
2. Wave 2 corrected to 10033, a loss of 457 points or a correction of 57 pc.
3. Wave 3 started from 10033 to 11172, a gain of 1139 points.
4. Wave 4 started from 11172.
A is 11172 - 10878 equal to 294 points
B is 10878 - 11117 equal to 239 points
C is 11117 to 10736 ongoing so far 381 points.
If C is 1.618 times A target is 10641.
Now 2 probabilities from here, 5 the wave starts for at least 800 points from here or it is abc x abc correction.
Targets of x can be 200 to 350 points.
So, if 1 more abc down then that will start from 10900- 11000 to 10500.
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