As pointed earlier 4th wave underway of local move as the day progressed the move got refined and we can clearly see what happened can clearly read abc of 4th wave.
Impulses are 5 waves a full elliott wave cycle consists of 9 waves 5 wave impulse and 3 wave abc corrective waves so total 8 waves. yes upmove should come above 5100 thats the resistive trendline
Two possible scenario's if 4th is over we go up and hit ceiling at 5180-5200 if 4th still happening last 15 min move i suspect 4th still on ,Then we probably dip before going up tomorrow..
OK... That's u... if at all total 8 waves means we have completed here right, then hereafter fall only... if momoentum not good...(atleast in november)
Shall we expect a correction of neckline 4700?? But so many news, nifty may go more highs..
wat is the target according to this sir
ReplyDeleteSo, now "c" is over, shall we expect a upmove now again..
ReplyDeleteMostly EW following 5 waves? not 9 waves?
Novice.. please guide me..
Regards
Hi ,Anonymous it can taget 5180,5200 need to take out 5100 convincingly
ReplyDeleteSujatha,
ReplyDeleteImpulses are 5 waves a full elliott wave cycle consists of 9 waves 5 wave impulse and 3 wave abc corrective waves so total 8 waves. yes upmove should come above 5100 thats the resistive trendline
Two possible scenario's if 4th is over we go up and hit ceiling at 5180-5200 if 4th still happening last 15 min move i suspect 4th still on ,Then we probably dip before going up tomorrow..
ReplyDeleteOK... That's u... if at all total 8 waves means we have completed here right, then hereafter fall only... if momoentum not good...(atleast in november)
ReplyDeleteShall we expect a correction of neckline 4700?? But so many news, nifty may go more highs..
Thank u
Sujatha, The 5 up is still not finished 4th wave going on 5th up is pending let that happen will interpret further moves then.
ReplyDeleteRegards