Elliot wave analysis of Asian Paint and the future
Om Namah Shivay
Brothers, Found Asian paint to be very different in terms of Elliot wave. Thought of analysing it although it may go completely wrong.
If we see the whole structure of Asian paint from the first trading day, it is on Impulse. There is no leg finish marking available. There is confusion what to mark.
So only possibility is to mark from the last correction. There are multiple possible scenarios for EW marking it is making. Some other versions were made. But posting this versrion (one of the versions ).
Loks We are making a 5 wave Triangle where the last leg 'e' has ended in between. A new corrective wave looks getting started. Still the marking can be said to be in initial assumption as nothing is clear / complete with the strucutre.
If the levels are respected, and the counts are proper, then a reversal is expected now to make leg 'c' of the the corrective wave. The trend lines are marked. The price is exactly at the trend line and we suppose it can go side ways or go down.
This is just an analysis. There is no recommendation or suggestion on trading.
Om Namah Shivay
Brothers, Found Asian paint to be very different in terms of Elliot wave. Thought of analysing it although it may go completely wrong.
If we see the whole structure of Asian paint from the first trading day, it is on Impulse. There is no leg finish marking available. There is confusion what to mark.
So only possibility is to mark from the last correction. There are multiple possible scenarios for EW marking it is making. Some other versions were made. But posting this versrion (one of the versions ).
Loks We are making a 5 wave Triangle where the last leg 'e' has ended in between. A new corrective wave looks getting started. Still the marking can be said to be in initial assumption as nothing is clear / complete with the strucutre.
If the levels are respected, and the counts are proper, then a reversal is expected now to make leg 'c' of the the corrective wave. The trend lines are marked. The price is exactly at the trend line and we suppose it can go side ways or go down.
This is just an analysis. There is no recommendation or suggestion on trading.
Om Namah Shivay
Trade closed: target reached:
Target reached
