In Last Update- ABCD pattern worked its magic & we got 2 back to back trades - going long in the zone 420-423 for 435-440 Then Dropping from 435-440 to 395 - Isn't Amazing!
Since Feb2011 lows of 73.40 - It has travelled in impulsive manner & completed choppy Intermediate wave-4 at 360 lows- which will be critical support for our next set of upside target initially 435-440 & cross of 440 -we shall come back.
Long Term Investment We shall look for 570 where wave 1 equals wave 5 -which is the long term target & minimum expectation in 5-6 months.
Previous Update- Rocks from 435 to 395 WHat a slip
Trade active
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07:21 Hrs 26th April2017
Last Price@403
We trail our stoploss below 380 from 360 which was critical support as stated in the main update.
Against 360 lows - It made recent low@384 & bounced - Moving next above 407 it should head in the desired direction.
Comments
gurukiran23
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Hi Abhishek, thanks for giving me the oppurtunity to learn from your charts. Do you conduct tutorials on elliott wave ?
WaveTalks
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@gurukiran23, Thanks Gurukiran, At present I am handling India Region for TradingView & Timing is an issue for me to do analysis as well but I try my best. Conducting tutorials is out of question at the moment which my profile won't allow just because of time limitation. In Future, Who knows I may conduct such tutorials.
@AbhishekHSinghCMT, can you please revisit this stock...I am holding since May @381 levels
WaveTalks
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@kamy4profit, The move upside from 360 to 465 looks very choppy so likely it is moving in complex correction & can drop to similar levels downside before it rallies again. On closing basis 435 & below should be the trigger downside. Long term looks for 570 atleast.