2nd Aug
Stock traded below the invalidation mark. So previous count stands invalidated and I am changing over to ABC count.
This wave down should end in the price zone between 195-199 and swing up should start but this will not move as per earlier targets. The new targets should be 255 and 280.
Move below 193 would mean final target f the correction is near 186.
29th Jul
Precisely as expected in the earlier post. Please check comments in the chart of earlier post.
Correction of Wave 4 till the last support level, just above 205, and on 28th July. And the stock saw huge short covering too. Wave 4 has most likely ended and it should now initiate Wave 5 with targets of
Minimum - 240
Ideal -263
Anything more is bonus.
Invalidation of the count is below 205. So that will be the Stop.
6th Jul
Currently running Wave 4 correction. Expecting it to complete in the second half of this month around 209 and some buying should come there. In wave 4 it seems it is making sub wave b upwards and then follow up down wave c should be expected. Probably a FLAT corrective pattern is in the making.
Of course it would be a BUY if it goes ahead and moves above recent High in this upswing. But it is unlikely as no perceptible buying is visible yet.
As of now there is no safe trade on offer as corrections are very difficult to trade because of variety of patterns involved. May be on swing up near the 233-235 shorts can be taken with Recent High as the stop.
Here is the daily chart with some comments.
Stock traded below the invalidation mark. So previous count stands invalidated and I am changing over to ABC count.
This wave down should end in the price zone between 195-199 and swing up should start but this will not move as per earlier targets. The new targets should be 255 and 280.
Move below 193 would mean final target f the correction is near 186.
29th Jul
Precisely as expected in the earlier post. Please check comments in the chart of earlier post.
Correction of Wave 4 till the last support level, just above 205, and on 28th July. And the stock saw huge short covering too. Wave 4 has most likely ended and it should now initiate Wave 5 with targets of
Minimum - 240
Ideal -263
Anything more is bonus.
Invalidation of the count is below 205. So that will be the Stop.
6th Jul
Currently running Wave 4 correction. Expecting it to complete in the second half of this month around 209 and some buying should come there. In wave 4 it seems it is making sub wave b upwards and then follow up down wave c should be expected. Probably a FLAT corrective pattern is in the making.
Of course it would be a BUY if it goes ahead and moves above recent High in this upswing. But it is unlikely as no perceptible buying is visible yet.
As of now there is no safe trade on offer as corrections are very difficult to trade because of variety of patterns involved. May be on swing up near the 233-235 shorts can be taken with Recent High as the stop.
Here is the daily chart with some comments.
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