MCX for 3100? 10% upmove possible from the current levels
TF: 75 Minutes
CMP: 2750
The fall from 3450-3500 levels seem to have completed a 5 wave down move.
In the corrective rise to follow, the A and B wave already done (or close to the completion) and the most rewarding C wave to follow taking it towards 3000 to 3100 (A=C)
In the Daily TF, price is expected to go down deep (around 2200-2400), but that's for another day.
This is a short term trade set up.
Internal counts are marked for easy understanding
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
CMP: 2750
The fall from 3450-3500 levels seem to have completed a 5 wave down move.
In the corrective rise to follow, the A and B wave already done (or close to the completion) and the most rewarding C wave to follow taking it towards 3000 to 3100 (A=C)
In the Daily TF, price is expected to go down deep (around 2200-2400), but that's for another day.
This is a short term trade set up.
Internal counts are marked for easy understanding
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Trade closed: target reached
It pulled back deeper as against the intended level. but now hit 3300.. but my target was 3K to 3.1K only.. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.