hi, would u mind updating ur analysis as on date??
KJ_nvrlosemoney
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@jatulji12, corrective wave c is expected to end t 434 to 430. entry for longs can only be taken after multiple confirmations of uptrend.
jatulji12
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@KJ_nvrlosemoney, i am rolling over my sell position at 394 since last 4 months. do u see this closing it gaps around 380 sometime soon?
KJ_nvrlosemoney
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@jatulji12, 394 is possible only if wave c extends beyond normal range. at present, i dont think it will fall below 430. you can still hold until there is trend reversal. after wave c completes wave 5 may start for target of 530-550.
you can still hold until there is a trend reversal- till what level, how wud I know. pls detail a bit for a lay man
Power sector and torrnt both appeared to be weak on weekly charts plus divergence. does it hold any importance?
KJ_nvrlosemoney
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@jatulji12, wave is not based on Gann theory. both are independent theory. As i have said, 430 is max downside i can see. i combine wave theory with price action and only indicator i use is volume. i use divergence indicator only in wave 5. i dont use it more often so cannot comment.