sankarghatak
Short

MAARUTI Are Qualified Investors QUITING

NSE:MARUTI   MARUTI SUZUKI IND
215 views
5
215 4
MARUTI             END of WAVE - 5 (Longest Wave)
MARUTI: @ 7206.60
Why to SHORT:
#1. WAVE - 5 Nearer to an END
(Max. @ 7219.7, alrready made a HIGH @ 7206.60.)
#2. RSI: NegetiveDivergence.
#3. Made High above Upper Bolinger Band, Last 3 consecutive days,
But fail to Close. Also Lower Bolinger Band in Downward movement.
#4. Last Candle Perfect DOJI (signals Trend Finder)
........more drawing on chart

SHORT levels: @ 7187.5, @ 7218.1 - @ 7239.9 (Hurdle)
TGT             (Swing/Positional):
Intra: @ 7107.4, @ 7088.5, @ 7057.9 - @ 7036.2, @ 6977.8
Swing/Positiona: @ 6930, @ 6899 - @ 6878 (Hurdle), @ 6821.3

more plotted on chart
SL: 7298+ (By Closing)



some mistake in your chart,wave 5 and 1 is always smaller then wave 2,it is basic of elliot wave count,please recount,i also do this types of mistake in begining
Reply
sankarghatak rupambose32
@rupambose32, There are three MAJOR Rules that are extremely important when learning and applying the WP. Of the five waves:

"1. Wave Two cannot retrace more than 100% of wave One." HERE 0.496

"2. Wave Three cannot be the shortest wave.(Does not have to be the longest)" HERE Shortest Wave => WAVE - 1

"3. Wave Four cannot retrace into the price territory of wave 1." HERE WAVE - 1 End @ 5312.50, and WAVE - 4 Starts @ 5800.

If as per your comment Wave 1 smaller than Wave 2, means Wave 2 RETRACED More than 100%. Violation of RULE-1.

Reply
rupambose32 sankarghatak
@sankarghatak, 5 and 1 maller then 3
Reply
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