AS PER CHART WE CAN SEE CLEAR THREE WAVE PATTERN FROM 16/02/21 TO 26/02/21 WE CAN LABLE THAT WAVE AS ABC CORRECTIVE WAVE AND FROM 26/02/21 TO 12/03/21 WE CAN SEE SMALL WXY CORRECTION WHICH I HAVE LABLED AND AFTER THAT NIFTY AGAIN FALLIN THREE WAVE FROM 12/03/21 TO 19/03/21 AND BOUNCE BACK IN THREE WAVE PATTERN AND THE BOUNCE IS EXACT 50% OF RETRACEMENT FROM...
Dear trader I am late for this trade but now as price is closing below 13 ema and 21 ema its now confirm that price will touch soon its target area and if both moving average crossover will happen than we will see more down wards
IN THIS CHART WE CAN SEE POSITIVE DIVERGENCE IN RSI
POSITIVE DIVERGENCE MEANS WHEN PRICE IS MAKING LOWER LOW AND INDICATOR LIKE RSI, MACD, STOCHASTIC ETC MAKE NEW HIGHER HIGH IS CALLED POSITIVE DIVERGENCE
IT LOOKS LIKE BANK OF BARODA HAS COMPLETED ITS FIVE WAVE FROM BOTTOM SO IT CAN BE TERMED AS WAVE (1) OR (A) AND CORRECTION IS OVER IT IS EITHER WAVE 2 OR WAVE B EITHER WAY WHETHER IT IS WAVE A OR WAVE 1 IT IS GOING UP SIDE TARGET UP TO 51
as per monthly analysis its bullish but for short term its look like we can short first target is 328 where c wave will be equal to A and second target is 318 where c wave will be 1.618% of wave A wave is wave pattern and wave which is corrective wave pattern
as per monthly chart its look like stock has completed his 5th wave and now in abc correction pattern
i am not an expert in elliott wave if any one want to give suggestion please come forward and give me their opinion
