As drawn on chart, Wave C of the correction appears to have completed with an ending diagonal .. Accordingly I have done some amendments to the markings on the chart against my previous post ... View remains bullish, as it is heading towards its final fifth motive wave ... Targets too remain same as previous post with SL as 1098
Do you believe the wave c correction could extend till 11111? And then go up?
raj0778
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@zeeshanshadab, if u notice the second leg of correction ie after wave x, the first wave ie a is an impulse, implying that the correction unfolding is a zig zag or a double zig zag ... post which wave b unfolded as a 3 wave pattern leaving wave x to be an impulse..it appears that wave c is an ending diagonal so as per me, it is complete.. however, mkt has its own mind and may continuing correcting .. so based on probability what appears is that the correction is over n wave 1 of wave 5 is unfolding .. targets projected by me r based on fin retracements, starting 61.8% to 100% .. but do keep a watch on Nifty, as it’s in a critical juncture.. HDFC bank wave 5 may retrace only 38.2/50 or so .. may also end up as a wave 5 failure resulting in the entire impulse starting from 1 getting wiped off .. m trying to give the general direction of movement .. however one must keep a close eye on each n every price action unfolding in live market