Remain short | 01 March 2018

Wave Analysis:

Even after an extension to the upper side, the corrective wave (iv) is still contained below the upper trend line. We expect the previous day's rebound from this trend line to have marked the end of this correction, that the current bearish correction is the unfolding of the impulsive wave (v) to the lower side and may break below 4666.02 towards 2624.35 or even lower. This view can only be invalidated in case the price gets above the immediate trend line, if this is the case, then we expect further momentum towards 13000.64. and may extend higher towards 19671.10.

Trade Recommendations:

Remain short with your target at 4666.02