As shown in the chart, the wave (e) segment of the triangle may be complete or may extend up to 9940 levels.Only the break of (b)-(d) line will confirm the completion of wave (e) and the subsequent downside move up to 9623-9630 levels to follow.
For today we will maintain a short position below 9882 with 9920 as a stop loss and the supports at 9856 and 9822 levels. The upside resistance is at 9940. The break of this level may take it up to 10000 levels.
The positional short position should only be taken after the break of (b)-(d) line which is around 9790 levels.
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