Escorts as long as it Holds 541, LT V.Bullish and will move above ALL TIME HIGH . Likely to be very volatile since moving in Expanding Triangle Patterns. Corrections also will be deep and sharp giving good opportunities to Bears also.
Disclaimer: I am not a Qualified Technical Analyst. Investors are requested to do their own analysis before taking any investment decisions.NSE:ESCORTS
Sir everything is correct as per your views , Expanding or Contracting triangle come in the place of 4th wave , Now i see an Expanding leading triangle and then price went out of the channel , it shows its an internal structure of impulse wave 3 , Now since impulse wave 2 was pretty much in side ways , so another rule applies here is expect the impulse wave 4 ( currently forming) will be sharp , mostly crowed is in the bias of bullish and Institutional are out of stock in the warehouse , they will come down to pick last shopping of stocks by which the formation of wave 4 will complete and they will move up , this explanation is logically applied and have also information of previous believed theory of R N Elliott , Good work sir
prabakaran62
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@I-Fund-Trader, Thanks Sir. This efforts are purely by gaining confidence by learning from your postings.
Always looking forward to your sincere guidance.....Regards.
MAYA_MUMBAI
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Great charting , Expecting more charts from you . Good work !
prabakaran62
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@MAYA_MUMBAI, Thanks.
Credit goes to "I-trend Trader" . Only by seeing his postings, i started drawing patterns better.
I always owe him for his efforts to educate others....Regards