Current we are in short term uptrend.
Our primary view remains that short term uptrend might have topped today. IF we fall below 9613 with a faster retracement then it will confirm that short term trend has reversed. failure to do so we should assume we are still in uptrend.
Reason behind such view -
Fibonacci time wise , Wave A= wave B
internal also we can see 3 waves in wave A and 3 waves in wave B.
Mostly looks like a flat pattern is forming, if correct then we will get sharp fall to 9450 levels.
Our primary view remains that short term uptrend might have topped today. IF we fall below 9613 with a faster retracement then it will confirm that short term trend has reversed. failure to do so we should assume we are still in uptrend.
Reason behind such view -
Fibonacci time wise , Wave A= wave B
internal also we can see 3 waves in wave A and 3 waves in wave B.
Mostly looks like a flat pattern is forming, if correct then we will get sharp fall to 9450 levels.