If you trade Futures and Options, read this carefully; the next move could be far more expensive than you expect.
We are all quite confident that we will reach wave B around 59,500. Are we still sure about the next move after reaching there? Actually, we’ll have to see if the price has the strength to break through the wave B and (X) resistance levels.
The price has already broken out of the parallel channel, but are bulls worthy to sustain above wave (X)? This is a big caution for the option buyers, as failure may lead to another retracement or a new leg down. The minimum fall it can be is 59,000 – 58912, which are crucial demand zones.
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Have checekd for weekly frame which is giving a mixed signal?