Market is well balanced at 5700 with maximum CE at 6000 and maximum PE at 5300 ,with 90% of TA and Astrologers are talking about New BULL run ,on Friday i had squared off my all positional holding and hoping that market should correct till 9/10 Oct .No one is ready to talk about correction and every one is expecting about a simple dip to buy.so where to short and where to buy ,Elliott wave count wise market should come to around 5440 or 5340, before a final up move.
So those who had shorted they should keep 5735 weekly closing as there STOP ,because closing 5735 weekly leads to 5965-85.and i am expecting a dip around 5440 or 5340 at least to create some longs again.Friday candle is Inverted Hammer which is giving me the hope with negative divergence on the chart that correction is coming ,so i will remain with my shorts ,as i am not expecting more than 5756 in this up move .
R.K.
So those who had shorted they should keep 5735 weekly closing as there STOP ,because closing 5735 weekly leads to 5965-85.and i am expecting a dip around 5440 or 5340 at least to create some longs again.Friday candle is Inverted Hammer which is giving me the hope with negative divergence on the chart that correction is coming ,so i will remain with my shorts ,as i am not expecting more than 5756 in this up move .
R.K.
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