The Step Index 300 is currently completing a corrective wave structure, presenting a potential trading opportunity for the next big move. Based on our Elliott Wave analysis, here’s what we see:

Market Structure Breakdown:

📉 The market has been in a complex corrective pattern, forming an A-B-C structure, with wave C still unfolding.
🔻 Wave C is currently in its final leg, with price expected to complete Wave 5 of this structure at a key support level.
📊 Fibonacci Levels: A retracement zone around 50-62% has acted as resistance for the recent Wave 4 pullback, confirming bearish continuation towards the support zone.

Potential Trade Setup:

✅ If price reaches the lower boundary support, we could see a bullish reversal, aligning with Elliott Wave's (4) correction completion.
📈 A strong rejection at this level could trigger a new impulsive Wave (5) rally, offering a high-probability long entry.

Key Levels to Watch:

🔹 Support Zone: Around 11,120 - 11,200
🔹 Resistance Zone: 11,360 - 11,560
🔹 Bullish Target: 11,800 and beyond

💡 Trading Tip: Wait for bullish confirmation signals like a strong engulfing candle, divergence, or breakout structure before entering long positions