This is for education purpose only and may not be useful for trading
EOD view: Trend is down...as triangle has broken on downside, 
expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: Short on any bounce near stoploss (2 day swing). The 'panic' low made in this correction would be the last phase of the price wise correction.
UPDATE: As expected, markets reverse from RSI resistance but are still trading above support. So expect some sideways movement till some level breaks. In spot, the key level to watch is 2500.
20 day swing : The recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.
expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.Trading strategy: Short on any bounce near stoploss (2 day swing). The 'panic' low made in this correction would be the last phase of the price wise correction.
UPDATE: As expected, markets reverse from RSI resistance but are still trading above support. So expect some sideways movement till some level breaks. In spot, the key level to watch is 2500.
20 day swing : The recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.
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