Asian paint has started the impulsive sub-wave 'iii' of wave 5. Price has crossed the high of wave 'i', which is the signal of impulsive behavior of wave 5.
A long position can be initiated after a pullback when price penetrates on wave 'i' to take support. And that cannot be a barrier for long-term investors. They can jump on it.
But if you are a short-term investor or safe trader, you may lose this opportunity due to waiting for a pullback, but this is the only way to manage risk.
But if you want to moderate risk here, you may lose the opportunity due to waiting for a pullback.
Target: 3342 - 3454 - 3505 - 3581
Invalidation: low of wave ii
I haven't mentioned sub-waves of wave 'iii' because it hasn't taken shape. I will re-upload this chart soon.
Previous Idea:
----------------------------------------------------------------
Show your love with likes and comments.
Do follow for more Elliott Wave Ideas.
----------------------------------------------------------------
Trade closed: target reached:
High - 3590
