Angel One Weekly - Already correcting for a longer down target

Angel One Weekly - Already correcting for a longer down target

Angel one has been correcting from Jan 24 till today, correcting nearly 1850 .

During last 58 weeks, it has corrected nearly 1850 points, i.e. 32 points per week. So around 1 percent of maximum stock value per week correction.

The recent correction from 3400ish , is expected to move till 1500ish value. There is a range of target which is marked on chart. It is around 1.27 extension as marked on chart.

On a weekly basis, on a short term, market may look positive as we see a rare complex correction which looks like a triangle. So the positive movement should be less, which are marked on chart. (We can analyze it on lower time frame as another post. )