Current upmove has started from 4th June's Low of 4770.
Wave 1. 4770 to 5348 = 578 points
Wave 2. 5348 to 5032 = -316 points (Retraces just above 50% of 1)
Wave 3. 5032 to 5448 = 416 points
Wave 4. 5448 to 5215 = -233 points (Retraces just above 50% of 3)
Wave 5. Wave 1 to 3 = 678 points
Wave 3 cannot be shortest. If wave 5 is minimum of Wave 3, then target will be,
5215 + 416 = 5631 achieved today.
ELSE, if nifty goes above this level, the moves has to be relebelled. Then Wave 3 continues.
Then current position will be wave iii of 3 (an extended one, most likely). Then likely targets for iii of 3 will be
Wave i X 1.618 i.e 416 X 1.618 = 673 points from 5215 i.e. 5888 and more.
Wave 1. 4770 to 5348 = 578 points
Wave 2. 5348 to 5032 = -316 points (Retraces just above 50% of 1)
Wave 3. 5032 to 5448 = 416 points
Wave 4. 5448 to 5215 = -233 points (Retraces just above 50% of 3)
Wave 5. Wave 1 to 3 = 678 points
Wave 3 cannot be shortest. If wave 5 is minimum of Wave 3, then target will be,
5215 + 416 = 5631 achieved today.
ELSE, if nifty goes above this level, the moves has to be relebelled. Then Wave 3 continues.
Then current position will be wave iii of 3 (an extended one, most likely). Then likely targets for iii of 3 will be
Wave i X 1.618 i.e 416 X 1.618 = 673 points from 5215 i.e. 5888 and more.
No comments:
Post a Comment