UJ could be having irregular correction, which has an impulsive wave in action since the 100.08 lows. It shall be reaching 161.8% at 108.60-1.08.65 of its internal wave-((i)) projected from wave-((ii)) to give us (( iii )) wave - Once if UJ holds in that zone - we shall look for a correction in the zone 105.50-105.75 zone which will retrace the current up move by 38.2%. Finally- Once it holds 105.50-105.75 - It shall give the final push to new highs above recent (( iii )) wave high.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ