Drop from 9951 – 9723 was a corrective 3 wave decline and stopped right in the middle of our green zone. (Recall Green Zone is the zone where we expect buyers to appear and traders can look for long positions). Buying has stopped the decline in the green zone so far. Let’s see what happened next
Buying continued and Index has broken higher as expected. We have already seen new highs above 9951 but Index is still in wave (( iii )) so expect more upside toward 10100 – 10163 area to complete a cycle from the green zone. What do we expect after that? Take 14 day TRIAL to find out
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