Diamond Shaped Diametric Pattern Completed And It Broke Trendline Support.
As it broken trendline lets assume this is gonna be some sort of complex correction which il head lower in coming days.
Now things to expect After Completion of Diametric is,
If ongoing rally from low of Wave g is Wave x then it shouldnt retrace more than 61.8% of Prior pattern...
Cmp 281.80
Accumulate 270 - 280
SL 240
Tgt 335
Analysis based On Neo Wave
Note - As enough data not available so gave trendline where it might gain support..
Detailed analysis il be given if i find data...
Cmp 472.85
Buy Around 465 .....
Sl 455
I am expecting g wave to turn into a triangle.......If its not then it may fall well below wave e and when complex pattern develops,there is no way u can stick to one pattern,it can form many variations.....
But larger pattern looks bow tie diametric to me,After it completes.....It should head higher levels.....
What we are...
Complex Correction Taking Place .
First Zigzag.
Next X Wave.
Then Diametric....(Looks Like it finished at g's Low)
Low of e might provide some resistance....
A bounce happened from Last weeks low,so, it might be impulse or just can turn out into symmetrical pattern connecting h & i to ongoing diametric correction.......
Be careful with shorts....( as i feel in...
a,b,c,d,e,f,g,h,i can Constitute To "Wave A".
Now Whats Running From Bottom Of Wave i Can be Wave X Or Wave B ....
If Wave X Then Will lead to Complex Correction.
If Wave B Then Will lead To Flat Of Any Variation.
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Sell On Every Rise After It Breaks Rising Trendline Or After It Touches Upper Trendline.
Truncated Impulse
Double Zigzag
Bow - Tie Diametric.
Can Buy Around 50% Of "Wave g" Running For Target Of 730.
Now Whole Pattern Can Form Flat Of Any Variation Or Some Other Complex Formation.....
After "Wave g" Completes,There Should be quick reversal,If not It il end up in other complex correction.
Double Zigzag & Diametric ,Now Ongoing Double Zigzag & May Move towards 1550,Cmp around 1370,Apply buy in dips strategy Support @ 1230,Followed By 1125.
Analysis based on Neowave.
Labeling Unorthodox Way.
