Intraday traders and short-term investors can buy nearby sub-wave 4 of wave (3). NSE Eicher motors are making waves ((5)). We may see the following targets soon: 3005 - 3146 - 3223 - 3292
Invalidation: Wave 4 can never Exceed the starting point of wave 1.
Sub-wave 4 can't touch sub-wave 1 of wave (3).
If you have any queries or concerns, don't hesitate to ask...
As you can see on chart we have completed wave (3)
After that we are in correction zone of wave (4), in which we are going from point A to Point B
Most like point B or wave B is near completion after that you will see a sideways move which i represent on chart as point C
If the level of 10800 was a wave 4 , then nifty should not cross the level of 13800. As per the elliottwave principle wave 3 cannot not be the shortest among wave 1, wave 3 and wave 5. One should start shorting nifty near that zone keeping sl of 13900
DOWNTREND is started,it will make three waves, 2 waves up & medial wave down as a correction !
Then it has chances to follow the down trend!
This analysis is for EDUCATIONAL & INTELLIGENCE pourpose,trade at your own risk!
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AS MENTIONED ELIOTT WAVE 12345 COMPLETED IN WEEKLY CHART AND CORRECTIVE WAVE ABC HAS TO BE KICKED IN NOW TARGET IS GIVEN FOR SHORT BUT FIRST LET 493 BROKEN ON CLOSING BASIS IN 15 MINUTE CANDLE GOOD LUCK
NOTE: TRADE AT OWN RISK ALSO MARKET MAY REACT TO BJP`S WIN IN MAHARASHTRA