TF: Daily
This looks like the darling of Elliott Wave Practitioners.
It has all the possible corrective patterns
Be it ABC, WXY, abcde and 12345
Diagonals at the top and the bottom.. Impulse waves in the middle.. you cant ask for more
Long story short - a touch down at the lower trendline (black) to complete the diagonal is due...
In principle, The E point must go below the C point, therefore a move below 150 is possible
Whether the correction ends at Y or will it be extended like WXYXZ..? we will know later.
For now, we are almost nearing the bottom..
Waiting for a breakout above the Falling trendline (Green) from the top.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
This looks like the darling of Elliott Wave Practitioners.
It has all the possible corrective patterns
Be it ABC, WXY, abcde and 12345
Diagonals at the top and the bottom.. Impulse waves in the middle.. you cant ask for more
Long story short - a touch down at the lower trendline (black) to complete the diagonal is due...
In principle, The E point must go below the C point, therefore a move below 150 is possible
Whether the correction ends at Y or will it be extended like WXYXZ..? we will know later.
For now, we are almost nearing the bottom..
Waiting for a breakout above the Falling trendline (Green) from the top.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.