In other words, Y -wave distance started from 675 highs where X-wave(Triangle) ended shall measure 38.2% of the distance in W-wave(895 to 620) at 570 levels.
895-620 = 275 - Calculating 38.2% of 275 = 105 points - Now Subtracting from 675 (675-105) = 570
675- X-Wave High
The zone of 570-580 shall be the zone where we can look Auropharma to halt & complete a larger WXY pattern from 895- "Turning into reality" - we shall come back for review later.
Going below 600 - we shall be looking for 570-580 as target or support zone- where we come back for review.
895 - is this end
X-Wave Triangle finished at 675- before finishing we took the leg from 648 to 675
Making of the triangle X wave- 710 haunts both the brothers- Auro & Sun
18 -20 Points away -Auropharma should kiss the initial target zone of 570-572.
Going above 595 - Intraday jump of 600 & beyond 600 for 605 targets can be seen.
So, pullback can be used to take intraday long positions for 600 & above 600 for 605 targets.
Later Falling below 600 & 590 after making new high shall be looked to sell for targets 570-575.
Intraday Both Target achieved at 605- Last updated at 590
Booked 23 Points in all for the day.
Booking here again at 587 - Sold below 600 after 606 Highs Target was achieved in Morning!
Doing some complex correction between 580-600. Above 600 -we shall look for 606-608 Target Zone & Above 610- It will extend to 616-620 Zone as next target zone.
Closing Price- 604.65
Target achieved at 607 suggested in interim update above - long above 600
Falls just below 610 - we were suppose to buy above 610 - Fantastic slip to 594 from 609.
Falling below 581-583 Zone - likely more weakness & shall kiss the zone 571 as next target level mentioned above.
Target Achieved @620 as expected & suggested in the update -13:51 Hrs @8th May2017 above.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ