This is what i was referring in my previous post , Currently they are not dropping fast , one can look for reversal near 340 and then take long position for 380+ ( which might be fast or slow ) then look for Last short selling in Futures for long time down move
When it completes this pattern many will come to know that its a Wedge , its important to forecast ...
Most try to Count the waves and Get Caught up in Lots of errors , including Professionals , This one is behaving or seemingly meeting the Elliott wave Principal
Here one can Notice Wave 3 is extended with sub division of 5 impulse wave in it ,
Triangles are formed at wave 4 , which is also visible in wave 4 of Primary wave 3 ,
The One Guideline Elliott leave ...
ICICIBANK has completed a large Ending Diagonal on Weekly and Monthly charts. We should see a rapid decline in on ICICI Bank. The targets lie around 140! yes 140! Similar patterns are also seen on Bajaj Auto, Hero Honda, Yes Bank, Motilal Oswal Financial Services and we have already witnessed what happened. Expect a similar rapid decline on ICICIBANK too