for short term buy @ 170.40 as shown the target will be end of parallel channel.
forming zig-zag where Wave B retraced from 68% of Wave A. wave can retrace upto 50% but 38 % is 230. so for we can buy it @ cmp for target 230. and then it will move for wave 5.
Software company having book value 98 which is very high and it may form double bottom if we see it in monthly time frame . but at the end it has made 5 wave of Elliott , after the 5th wave it has formed contracting triangle . if it breaks out then buying price will be 25...
short after breakdown head and shoulder pattern in 30 minute tf.
5 WAVES POSSIBLE WITH A SMALL STOP LOSS
may be it is a flat correction to complete 5th wave.
So now if we see here wave iv is at 50% retracement of wave 3rd and now it reversed to make wave V of one lesser degree III wave is extensive but not impulsive , so the wave V can be extensive and impulsive both ------------------- THANKS -------------------
M_M making 5th wave of Elliott to complete wave 7th/ Wave - B (corrective wave) of whole cycle so buy above this consolidation phase @ 655 ---------------------------------------------------------- ________________________________________ intraday target 1 ---- 664 intraday target 2 ---- 672
after making double bottom, it is recovering and made cup with handle pattern where its handle is 38.2 % . ---------------------------------------------------------------------------------------------------------------------------------------- so now it is looking bullish and confirmation with Elliott's wave theory . after 2nd major wave it had made 4...
only for study according Elliott's wave theory it has completed its 1st cycle perfectly. -------------------------------------------------------------------------------------- and have a look at its bar ..... aporox 144 bar are there ____________________________________________________________ ____________________________________________________________ So lets...
below 220.31 target 1 - 215.99 target 2 - 211.60 and 210.60 ------------------------------------------- In Long term it is very weak . it will be good to play short-short ----------------------------------------------------------
buy@ 6000 safe buyer buy after breakout --------------------------------------------- thanks ----------------------------------------------
its good to buy here in intraday todays targets are.... 229.40,231.55,233.94 ----------------------------------------------------------------------- in long term it is also good to buy here