It will starting a minor wave is within primary wave 3 . And if the correction is over it is in a minute wave 3 . So a 3 of a 3 of a 3 starting in the stock . Which means it is on the verge of the strongest move of its life time with a conservation target of 179 .
Now the dilemma . Is this the right time to buy
Pros
1. It has done a double zig zag correction . Triple zig zags are rare .
2. The correction reached the previous wave 4 of one lesser degree .
3, It is on the verge of a 3of3of3 .
4. The slope of the new move is sharper than that of the corrective structure .
Cons
1. The correction did not retrace 38.2 % at 117 . But it turned around from 119 . I think its not a very big con . And augurs a bullish view.
All will be clear moment its crosses 135 .
So one can buy for a very sharp upmove with a SL of 124 taking the view this upmove may be the final x wave
Now the dilemma . Is this the right time to buy
Pros
1. It has done a double zig zag correction . Triple zig zags are rare .
2. The correction reached the previous wave 4 of one lesser degree .
3, It is on the verge of a 3of3of3 .
4. The slope of the new move is sharper than that of the corrective structure .
Cons
1. The correction did not retrace 38.2 % at 117 . But it turned around from 119 . I think its not a very big con . And augurs a bullish view.
All will be clear moment its crosses 135 .
So one can buy for a very sharp upmove with a SL of 124 taking the view this upmove may be the final x wave