NSE AAVAS accomplished wave (5) of wave C at 1698 and started an impulsive cycle from the parallel channel’s lower band. Prices are forming into the downtrend channel, and wave (4) breakout can give a steady uptrend for bulls.
- Cluster range of 1749 – 1738.6. Trend-based Fibonacci extension of 0.5 at 1749, and 1.618 reverse Fibonacci of 4th wave at 1738.6.
- Fibonacci extension of 0.618 at 1683.6.
If the price sustains a cluster range of 1749 – 1738.6, traders can trade for the following targets: . Safe entry is possible after a pullback. The setup will be invalid below wave (5).
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