1. Wave 5 in commodities is extended because of fear . Since INR dependents on crude so wave 5 is extended .
2, Truncated wave 5 , Ending diagonal , extended wave 5 result in a sharp correction . If wave 5 is extended it will correct to wave 2 of the same degree.
3. In commodities post triangle thrust is an extended wave 5 . In this case triangle...
Nifty is likely to retrace 0.618% of the drop from 11760 to 10000 which falls in the 11100 range which can be wave 1 or A . Wave B or 2 is likely to be an abc ziz zag . Wave A (impulse) is over and wave B (corrective wxy) is also over .Though a possibility that we are still in wave B is there but slim . Now we seem to be in the last leg C of the ziz zag . The...
Wave (b) in form of an abc flat . wave c of the flat looks like an impulse also most complete . Evidence will come when we see a distinct five wave move down in form of an impulse or an LD . Till then become position less.
Most probably Nifty is about to complete pull back (b) . (b) seems to be in form of an abc flat corrective structure in which wave c is a strong impulse Right now considering alteration we may in wave 4 of the impulse c and if alteration is not considered we may be in wave 4 of 5 of c. The structure will clarify itself in the coming week . But its a topping ot...
Made a multi year triangle in wave 4 and has a sharp wave 5 post triangle thrust. Signals end of a multi year trend . Hence the brutal fall which may end at 600 which is the previous wave 4 of one lesser degree.
All channels have be comprehensively broken . This count is just a whisker away from being a 12345 to an ABC . ABC means the company would be in serious distress , Just see this chart on aritmetic scale.This is the midcap story.
Always need to be careful when 5 waves of a midcap/small cap stocks are complete or for any other stock . In good stocks there will always be wave extensions for eg HUL / HDFC Bank etc . and these will be difficult to count . So in brief it u see a stock where u can count 5 waves clearly over lets sat 5-7 years that stock is doomed .