Yes... Now that everyone is thinking worst is over and markets are bullish thats when the sell trigger will be done by sharks. 15250-15300 is good reversal zone
Goutam5196
⋅
very likely yes... it is a classic bull trap setting up
technicalFinan9352
⋅
Weekly chart shows RSI (14) 65 that means market continue bullish. Market make high 15400 above. Can't reach R3.
ggmanav
⋅
Nah
indiatrading
⋅
in wave 4 how it difference possible?
JagdishKumarPahuja
⋅
Some analysts counting as wave 4 completion & wave 5 is in progress with a projected Target is at 18434.detailed as. Wave 1. 7511 to 11794=4283 . Wave 2. 11794 to 10790=1004. Wave3.10790 to. 15431=4641. Wave 4.15531 to. 14151=4641. Wave 5.14151 to .18434=4283. Wave 5 taken as equal to wave1. After that ABC correction would start. Please correct to my views .In fact Elliott wave is subjected so every one has its own views & count .
JagdishKumarPahuja
⋅
Please read wave 4 from 15431 to 14151 +1280 points. Wrongly written as 4641.
Dhaval_Parekh
⋅
@JagdishKumarPahuja, This could be a possibility but while counting wave 1, from 7511 to 11794 we are not able adequately fit smaller wave 3 and wave 4 considering Elliot wave rule.
JagdishKumarPahuja
⋅
@Dhaval_Parekh,
Wave 1 covers 4283 but wave 3 covers 4641 . It fits with in Elliott wave rules . Wave 3 is not the shortest of wave 1 & 5 .
My request you pl give your counts by points for each wave as shown in your chart .