In most cases a truncation forms in impulses with huge third waves, so if we come to the conclusion that if there's such a case, we should watch out for a possibility to have a failure in the fifth wave.
First & foremost wave 4 has not overlap wave 1, Wave high was @ 642.95 level & wave 4 low was @ 642.60 level.
As we have completed EWP structure (Pattern) in The Calcutta Electric Supply Corporation or CESC is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group.
Using proper Risk management is absolutely essential when trading or investing in a volatile stock such as CESC. Elliott Wave counts can evolve quickly, be sure to have your stops in and define your risk when trading.
The Stock will start correcting from its previous high of 668.70 (61.8% Retracement) till 480 (23.60% Retracement) level.