As per wave analysis, TL as well as Fibs, here are my observations mentioned on the chart..

Comment: Price has dropped as per my forecast.

Now, two things can happen : First, it will try to go towards the Red Box again and then drop fast to the final target.


It should just go down fast ..

Let's see how things unfold?
donot trade of expectation of price go there then you trade,donot hope trade on indication
WaveFibTrader rupambose32
@rupambose32, Thanks Rupam. My analysis is based on wave theory, and there is a last wave UP expected, hence it is a WAIT GAME.. If it goes there, I will buy otherwise I will let go this script!
WaveFibTrader WaveFibTrader
@WaveFibTrader, Sorry, I will re-frame the statement above. We are now in correction abc, and the trendline is broken.. hence the correction at present is more than the previous ones.. So if this happens, it will go for a further ABC down and then continue with the original HTF trend UP, but for now it shows that it will do as above. However, there is every possibility that it will NOT do this and create a complex pattern and still crawl UP.
WaveFibTrader rupambose32
@rupambose32, Rupam, have you seen the price lately for IndusInd? It has touched 1596 today!! FYI only.
rupambose32 WaveFibTrader
@WaveFibTrader, yes very good analysis
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