Bata India- Weekly and Hourly Time Frames- A Complex Assessment
TAKE MY WORD FOR IT - THERE MAY BE LESS TO MAKE OUT HERE, BUT PLENTY TO LEARN IN THIS ONE
Was talking to an expert who told me that Bata India is a "Long", so I pulled up the charts. Here's what I found that stunned me.
Initially, all looked hunky-dory on the Weekly chart (refer 1st chart), but when I moved on to the Hourly (refer 2nd chart), the story turned out to be barely simple, contrary to what it looked at the beginning.
I was staring at a real complex wave pattern, which I haven't for a while and which doesn't seem to me like an Impulse (5th), but rather a complex B as we may still be in the 4th. This wave count suits such a wave personality the most, hence I'm tempted to go ahead with a slightly unconventional count.
A word of CAUTION - Complex waves are best left on their own, but those who'd like to dare taking on such a wave, may venture with a tight stop loss.
Note : This view would be invalidated if the price crosses 1682 (R1), 1755 (61.8% Fib ext) and 1895 (R2) with force.
Cheers !!
Was talking to an expert who told me that Bata India is a "Long", so I pulled up the charts. Here's what I found that stunned me.
Initially, all looked hunky-dory on the Weekly chart (refer 1st chart), but when I moved on to the Hourly (refer 2nd chart), the story turned out to be barely simple, contrary to what it looked at the beginning.
I was staring at a real complex wave pattern, which I haven't for a while and which doesn't seem to me like an Impulse (5th), but rather a complex B as we may still be in the 4th. This wave count suits such a wave personality the most, hence I'm tempted to go ahead with a slightly unconventional count.
A word of CAUTION - Complex waves are best left on their own, but those who'd like to dare taking on such a wave, may venture with a tight stop loss.
Note : This view would be invalidated if the price crosses 1682 (R1), 1755 (61.8% Fib ext) and 1895 (R2) with force.
Cheers !!
Trade active:
Folks,
We've set course into the right trajectory, at a timing which couldn't have been more right.
This is the power of analyzing the markets correctly !!
You must also look at my other analysis of Nifty, Infosys, Adani, Maruti etc. to appreciate that there is a Method in the Madness !
Please don't forget to 'Like' the posts or a word of encouragement would be fulfilling too, for the hours of research that I put in before I publish any of my work :)
Enjoy... Cheers!!
We've set course into the right trajectory, at a timing which couldn't have been more right.
This is the power of analyzing the markets correctly !!
You must also look at my other analysis of Nifty, Infosys, Adani, Maruti etc. to appreciate that there is a Method in the Madness !
Please don't forget to 'Like' the posts or a word of encouragement would be fulfilling too, for the hours of research that I put in before I publish any of my work :)
Enjoy... Cheers!!
