Current structure is a WXY correction upwards. (WXY) : Consists of a smaller WXY structure WXY: Wave W consists of 3 waves, also a wxy because of its complexity. Wave X is the most complex wave of all of them, not dividing it into smaller waves may be wiser. Wave Y consists of a 5 wave sequence, with my target at around 8.1k, could also go to 9k to fill the gap (wave 3 extension).
Stoploss can be put under wave (ii) of the current sequence. However putting it slightly below the support at 7200 ish gives better risk management.