Short on Rallies Short

REC LTDNSE

Description

⋅ Feb 22, 2017 4:59 AM

RECLTD is close to complete 5 wave structure started in early 2016. Ideally stock should reverse in 160-165 zone.

IF we look inside the 5th wave, the subwaves indicate that wave 5 is close to completion

Comments

OPTIMUS2357

⋅ May 2, 2017 11:15 AM

Any new thoughts on this...?

raghavendrakumart

⋅ Feb 22, 2017 5:53 AM

Thanks for responding..at first glance 2 was below 1in above chart.

Can you consider an alternate ...as 3rd going from 121 ( where you marked as 4 as 2 and then move up as 3rd )

TangoTrader22

⋅ Feb 22, 2017 6:08 AM

@raghavendrakumart,That is possible scenario,especially given current momentum, but that would give a very inflated upside. May be its sister company PFC can help show the way

raghavendrakumart

⋅ Feb 22, 2017 5:06 AM

Fundamental problem with your EW count...2 CAN NEVER GO BELOW 1. Please correct.

TangoTrader22

⋅ Feb 22, 2017 5:09 AM

@raghavendrakumart, 76.1 is beginning of W1, 76.4 is low of W2

TangoTrader22

⋅ Feb 22, 2017 5:18 AM

Zoomed in version from Ninjatrader charts..

TangoTrader22

⋅ Feb 22, 2017 5:18 AM

@raghavendrakumart, Zoomed in version from Ninjatrader charts tinypic.com/r/f2vtzq/9