based on Elliott wave theory and support and resistance so here according Elliott wave theory it is making 3rd wave of higher degree.
WHAT IS HAPPENING IN RED CHANNEL ? IN RED CHANNEL IT IS FORMING 3RD WAVE WHICH CONTAINS LESSER DEGREE WHICH IS MADE UP OF 5 IMPULSIVE WAVES so NEXT IS 5TH WAVE AND IN 5TH WAVE IT WILL FALL NOW.
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