Doesn't look that good. I have my primary count for Shriram Transport finance doing a WXY down on the weekly frame and its safe to say so as its clearly visible if you zoom out that it completed 5 waves up on the weekly. Although wave structures as big as this don't fulfil their targets 100% but i'll still be keeping my long term targets near INR 2400-2700 ranges , after completion of this large WXY ofc. There's always a possible scenario where it can go for extended correction phase which can then be counted as WXYXZ but i'm not too confident about that , too early to comment on such move down. My primary is WXY as gradually increasing buy volume during the whole movement points towards that.
My short term target for this X up is indicated by that pink line where 5 of C of this larger X ends. Mid term , I'm looking for a Y wave down to 78.6% (INR 300-450 ranges) retracement level of this impulse 1 up on weekly . Taking 5th wave of this hyperwave 1 elongated , we get this target which generally lands around the 4th.
There's another count with elongated 3rd of this larger 1 instead of the elongated 5th, which will then give us our targets around 61.8% (INR 600-700 ranges) retracement level of the whole up movement.
Both the counts are valid down to 99.99% retracement level.
This is not a financial advice and just my view of the market atm . Don't trade on other people's opinions , get on your own and make a plan and trade on them.
Thank You.
My short term target for this X up is indicated by that pink line where 5 of C of this larger X ends. Mid term , I'm looking for a Y wave down to 78.6% (INR 300-450 ranges) retracement level of this impulse 1 up on weekly . Taking 5th wave of this hyperwave 1 elongated , we get this target which generally lands around the 4th.
There's another count with elongated 3rd of this larger 1 instead of the elongated 5th, which will then give us our targets around 61.8% (INR 600-700 ranges) retracement level of the whole up movement.
Both the counts are valid down to 99.99% retracement level.
This is not a financial advice and just my view of the market atm . Don't trade on other people's opinions , get on your own and make a plan and trade on them.
Thank You.