4.c. has done a very close 1.618 time wave A and the big candle ( Although not a huge volume) may signal a reversal to complete the 5th wave of the up move?
Disclaimer: I am new to EWT but found it really helpful to invest in stocks..
The target for wave 5 is somewhere in the range of 1550-1600 ..
Please do share your view..
My counts are marked. i believe that we are in the 5th wave of larger degree and we have done the 61.8% target of 1097 and is already extended.. if this is..then we may correct this 5 wave up move and head for 900 or so .. !!
Please do provide your comment on how these counts sound? or if you are working with a different counts ?
SL, Targets etc.. are on the chart
Looking at weekly chart look like a clear 5 wave upmove and then corrective A and B complete .. since wave A was 5 wave and wave B( running flat ) looks like 3 wave.. i have a hypothesis that Pidilite is not in a new impulse rather it is still in corrective and may do atleast 600 or below..
Below is the weekly chart
invst.ly
Now, coming to the hourly...
