Market can correct up to 11481-11421 range from here. Minor correction in the direction of Major Uptrend.

Date : 7th October, 2020

Time: 4.50 a.m

Nifty cmp 11662.

Nifty rebounded from 11185 to 11677 in recent swing.

Minor wave iii appears to be done and minor wave iv correction pending up to anywhere between 11481-11421 range. 

Kindly note that, this is minor correction in the Major uptrend. Hence, short term traders book profits in long positions. As 200-250 points correction expecting in nifty in near term , from there again uptrend resumes.

For the couple of days, market to trade weak and face profit booking in select stocks. 

Investors need not worry as this is only minor correction. Market rebounds after minor correction.

 

Stock specific action can be seen.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com