All explained in the chart . That seems to be the most probable count.
Most probably making an ending diagonal in wave V .
It is alternate count as it does not present the Right Look . Lets see.
Invalidation of the count is 10139 end of wave (b) of the triangle
Nify is in the final wave ((v)) of 1 or A . Within ((v)) it is in an extended wave iii . Might give a panic bottom at 10078 levels corresponding to the middle line of the channel line . There after we shall get 2 or B for 10800 - 10900 .
Whatever the count .HDFC Bank should reach 1900 levels .
For those who understand Elliott it is simple, Re
Rest is explained in the chart . But the over all correction is not over . Expecting B wave after the fall to levels given . And after that a wave C which will most probably show us below 9900 levels . But the wave B can be very tricky as all corrective waves are . It may take a lot of time and be the worst sideways movement . But wave C will open good shorting...
Bit coin corrected in a Primary level ABC correction . with wave B as a contracting running triangle . Now a new impulse seems to have started . It would be a good strategy to buy every dip . It may reach its previous glory . A triangle is one of the most potent structures in EW if one can identify it . This chart is full of triangles but they are clear in charts...
Nifty is in a wave ((iv)) correction . It is completed wave ((iii)) which was exactly 1.618 times wave ((i)) extended frm wave ((iii)). Wave (iv) - of one lesser degree was a triangle . So move after 10818 was the wave (v) of the current wave ((iii)). I expect Nifty not to fall in a straight line . It may have completed wave A of (iv) . So expecting a B wave to...
Maruti is in the wave v of 3 . This is indicated by a wave ((iv)) triangle . It is looking for a bottom in wave iv . and for a final move into wave v . This should complete a bigger wave 3 at around 10300 which started at 4773 . I am not marking different degrees . This is just to show movements after a triangle formation . Triangles are penultimate movements in a...
Nifty made a running triangle in wave 4 position . It seems to be in final wave v of 3 .
In case of SBI . A contracting triangle happened. So the entire structure is ABC and not 12345 . ABC is a corrective structure which is destined to be corrected . Hence the fall in SBI .
Simple EW counts . Please take the time lines as the trend lines portends . But basically it will lazy short . I would prefer buying at dips . But this EW count is on daily basis . Over all on weekly and monthly basis this stock is a buy on every dip . Regards