Watchout for channel breakout
Intermediate Wave A of Primary wave 2 of Cycle wave V. wave 2 likely to take the price at least to 594 or its possible that wave A itself might find its support at 594 which is at the level of end of Minor wave 2 of Intermediate extended wave 5. As the theory suggests that after an extended wave 5, wave a is likely to find its support at the end of wave 2 of...
Corrective Wave b of Primary degree is likely to get complete at 550-560 if the correction is not a expanded or running flat. Wave 5 of Primary degree got completed in Feb'20 and the fall of March was possibly the wave a of the correction. Wave a while completed quickly, wave b might be taking 9 months if gets completed in Dec. Taking que from here, for most part...
Wave 4 likely to be a flat. a, b of minute degree completed on friday. Now the stock might be heading to 610 to complete c wave. Overall wave count- Minute wave c of Minor wave 4 of Intermediate Impulse wave 1 under progress. There could be another possibility which is that Minor Wave 5 of intermediate wave 1 has ended at 649 and Intermediate wave 2 is in...
Elliott wave 5 in progress.
If it crosses the channel top decisively, then long, if it makes a U turn then short.