Tata Steel - (Wave Count) Possible Wedge Completion 370 to 300

This view is not valid above 370. Kindly consult your advisor before taking any positions. Thanks & Have Good Day.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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+3 Reply
Very very nice analysis,
droping ↘️nifty also put a sparkling diamond in ur🏅 crown,
The CNX METAL index is also at a Bearish Harmonic Reciprocal AB=CD
How come the minute wave 3 within the minor wave 5 have an ending diagonal? Aren't wave 3 considered the best wave for growth and the major move of an impulse comes in wave 3? Then how come wave 3 have a diagonal which represents the uncertainty and weakness in market?

Another thing, after the diagonal in wave 3, in your count, you plotted minor wave 4 in the price territory of minor wave 1. One of the basic Elliot rule states that the, " the fourth wave never enters the price territory of first wave." and this never happens especially in a third wave, which again is considered the best wave for growth.

One final thing, in your plot, you plotted waves w, x and y after the end of minor wave 4. When waves w, x and y are considered corrective waves. How can they be a part of wave 5 rather than the part of corrective wave 4?
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