It seems a ‘Flat’ correction is in progress and in which Wave ‘A’ completed Wave ‘B’ seems to completed @ 11687-11750 range OR will terminate near 11750-810 after that Wave ‘C’ of larger degree would start which can target 10000 in the medium term.
Based on the above conditions, the following strategy is recommended:
Minor ‘b’ wave (trading range) is now in progress which is sideways mode and may continue for some more time. “Selling at the upper range near 11754 and buying near support level near 11560” with a risk reward of 1:2 is the broad strategy. (Means trade with 30 points stop loss and 70 points profit).
Trading strategy suggested in this report is just to show how one can forecast markets using various rules based on Elliot Wave counts for practical trading with good Risk Reward. These trading strategy are not trading recommendation. Any trade based on these trading strategies will be at your own risk and we are not responsible for any loss or profit for the same. Take your own decision. We are not SEBI registered company and we are not providing any calls.