KPITTECH - Wait for the Pullback

Dec 15, 2024

CMP: 1533

Primary view/assumption is that, 3rd and 4th wave are complete and now are in the early stages of the Primary (5)th wave.

Price has retraced 38% of the entire impulse from 2nd wave and now showing signs of reversal.

Price is now approaching the 200 DEMA and the wide range RED bar (GAP Down Candle) at 1600 levels

The smaller TF 5 waves also appears to be terminated/ended at around 1600 levels.

If indeed, the primary view of bullishness to play out (5th wave has started), then it is prudent to wait for this impulse to end expect the DIP in the 2nd wave down. The 3rd wave will be most rewarding

On Weekly TF, Primary 3rd is complete


Daily TF 1 and 2 with Subwaves



Daily TF wave 3 with subwaves



Daily TF 4th wave and subwaves



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.

Jan 5

Trade active

Since the price has broken 1424, my primary count (of 5th has commenced) has now put in to doubtful.. which makes me consider the alternate counts possible..

The move from the lows is now 3 wave and not 5 wave.. Also, the fall from 1550 zone looks impulse down

So, impulse upmove hasnt started yet.. in that case, the alternate counts are



OR

It could be that we are looking at 1-2, 1-2, 1-2 subwaves in play.. in which case, the primary view is still valid as long as 1340 is protected..

For now, it is a wait and watch game.. with a Negative bias

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.