Total
move from start 7118 to end of wave 3 (8180) is 1062 points. Wave (3) is just
110% of wave 1, thus we can expect wave (5) as extended that can go at least
61% of total move from 0 to 3. If we add 61% of 1062 at 7724 then we get the
level of 8380. Thus, we can expect minimum target of 8380 for last wave 5 as
(ABC) as it is 5th wave of Ending Diagonal. But last wave (5) of 5
has to go at least above wave (3) (8180) to avoid 5th failure.
Full Analysis Report of Nifty Here...
1 comments:
Hi Deepak, You mentioned that "total move from start 7118 to end of wave 3 (8180) is 1062 points". I think the ending diagonal started at 7208 not at 7118.Pls check the chart. The 3rd wave of the ending diagonal ended exactly at 127% of wave 1. Also since we are in the 5th wave of the ending diagonal we can rely by the rule "5th wave of a ending diagonal is always greater than the 3rd" and hence 8474 is minimum target.
Regards
Mahesh
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