Wave Analysis:

During the previous trading day, after an extension of the corrective wave (4) to the lower side, this correction failed to go below the daily support level 499.64, and is currently heading to the upper side, we expect this rebound to have marked the end of the corrective wave (4) to the lower side, and should be an onset of the impulsive wave (5) to the upper side and should break above 1390.01 towards 1500.00. According to the current chart set up and structure, as long as the price remains above 499.64, this is a good buy place towards 1390.01.

Trade Recommendations:

Expect a possible bullish price rally towards 1390.01