HDFCLIFE "Truncation Phase" Elliot Wave

HDFCLIFE Elliot Wave Analysis

Time Frame : 2Hr

The above chart of HDFC LIFE laid out the Elliot wave (Impulse) Truncation

What is Truncation Phase ?

Current Truncation Phase is from Bear Trend

Impulse wave sometimes also contain Truncation. Truncation is a phase where 5th Wave does not move beyond the end of third wave. To spot truncation correctly,It is imperative to ensure that the presumed 5th wave contains the necessary of 3-5 waves. Truncation often occurs after a strong third wave

Based on the Elliot Wave Truncation phase we can expect 560-570 level in HDFCLIFE

Happy Trading!


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