After the end of an Ending diagonal (in this case an expanding ending diagonal) . The correction is sharp and swift. And often ends at the starting of the diagonals The current correction can be ABC finishing at ((3))(we still have to reach here ) or we are yet to complete the wave 5 of A . But any breach of 9445 – 9450 may see a free fall.
There are degrees of Elliott Waves starting downwards. I am giving the relevant ones 1. Cycle I 2. Primary ((1)) 3. Intermediate (1) 4. Minor 1 5. Minute ((i)) 6. Minuttee (i) 7. Sub minutte i ii iii iv v 8. Micro ((1)) 9. Sub micro (1) 10. Minuscule 1 ** (( )) means circled. Here we are looking at the completion of sub minutte iii and start...
There are degrees of Elliott Waves starting downwards. I am giving the relevant ones 1. Cycle I 2. Primary ((1)) 3. Intermediate (1) 4. Minor 1 5. Minute ((i)) 6. Minuttee (i) 7. Sub minutte i ii iii iv v 8. Micro ((1)) 9. Sub micro (1) 10. Minuscule 1 ** (( )) means circled. Here we are looking at the completion of sub minutte iii and start...
A = C . The last movement has given a completed 5 wave impulse . Will it correct for 2 or ((C)) . Dont know . 8960 seems to be the key level . But be careful on the long side for now.
1. It is a monthly chart . 2. The scrip moved above the 1.618 projection in minor wave 3 projection of 222 . So the next stop on its journey is 2.618 extension i.e 307 .With resistance at 245 . 3. It is in the zone of 3 of (3) of ((3)) at 2 degrees higher . 4. Highest RSI in over bought zone proves point 3. So the following can be concluded a. For people not...
Why did it fall because the 5 wave impulse was complete . I have not shown the Elliott channel it would be cluttering . But it sticks to the Elliot channel. Shorting a bull market is not good. So a buy at 283 (preferable) or at 250 ( u may not get). I have observed that ABC after wave 5 is always bought into . So wave 5 in an impulse or a correction has been truncated
Seeing the last wave ACTION. Is there a running flat in making for PNB. Let it close above 160 . Wait for pullback to sustain 150 . But very shrt termers can trade for 160 . This is a position call 4 260 levels . It will take time.
We know there was a 7 (3+4) wave move down . And we had a Leading diagonal . Rest is a traders dilemma . I have never posted alternate counts . They are stop loss scenarios and a relook after some price action . I am posting it now . Can anyone make a head or tail of the alternate count ? And how to trade it ? I have not posted RSI , Jap Candles and trendlines ....
A flat is a 3-3-5 corrective structure . Normally it is zizzag - zigzag-impulse or ED . But in rare cases it becomes flat - expanded flat- impulse or ED . Since flat is also a-b-c (3 wave corrective structure) So in our structure wave a - a simple flat wave b - an expanded flat wave c - expected to be sharp impulse It also represents a time correction and...
Completed primary wave 3 and now starting primary wave 4 down .
According to me this is the most optimistic scenario of Nifty .
I am enclosing the zoom in of the wave C . It has an extended C wave . It is running the final v wave
Nifty is on the verge of completing a flat correction . Flat correction is 3-3-5 structure . In this case wave A is a triple zig zag . Wave b is a zig zag . Now running wave C
This is an Infra stock .. I can count 5 waves on the chart on log scale monthly chart . Now if I take (( )) labels move is finished . But if I take (( )) , ( ) , and still further in to 1..2 This would be a turbo move Is the market scaling up . Do we need to change our degree of labelling ? This is the question we all need to ask .
This is a high risk chart . And the labelling degrees are incorrect . Pardon me for this . But we are at a decisive pattern . Safe place to buy would closure beyond wave 5 . But then move might be missed. Keep the strict stop loss and at this rate SL is not too way down.
This is a weekly chart so price action will take time . I see a big upside . It is in 3 of 3 of 3 mode .
Most probably wave 2 has ended . And has gone 50% retracement of wave 1 in a double correction . If it decides to do another round of correction thats why a sl of 332.
This is updated labelling with a change in wave 'a' of the last correction . Now we are running a wave "C" Ending Diagonal for 9540 - 50 zone . At present we are in the wave 4 of the ED . Then we should have a wave 5 the last one ending in 9540 - 50 zone . 9548 is exactly z = 1.618 y . After that we should see an very sharp reversal and the end of the...