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| HCLTECH EOD CHART |
A five wave move seems to have ended.
The five waves are in the following
ratio
W2 retraced about 80% of the W1
followed by W3 which went tad higher than 1.618% of W1 and W4
retraced 38.2% of W3. Wave 5 is an extended wave and the possible
targets are 718 > >757 >>781.
Now take a look at internal wave
structure of W5
W (ii) retraced 61.8% of the previous
move and followed by the massive W(iii) which extended close to 400%
the next wave W(iv) retraced merely 23% of W(iii). All these
move gives us possible end point of W (v) as 731 at 261.8% of
W(i) or at 736.5 if taken as per golden ratio.
Woila ! Present move seems to
have met resistance at 736.6 for now.
W 5 is an extended wave hence we should
get a fast retracement, taking the price close to 500 !
Happy Trading !
SHEKHAR
This comment has been removed by the author.
ReplyDeleteNew to this blog. Who do I ask for clarifications on the trade set ups?
ReplyDeletecan we short hcl tech at this level?
ReplyDeleteHi Shekhar i suppose the earlier count has been negated..there must be some miscalculation in the sub fractals..I wud request you to post new counts..
ReplyDeleteThanks
Hi Shekhar..Whats the point of a blog if you dnt get time to update..the posts have been far and few..Just putting my view..No offence may be you are too busy in life..but wud hope if you can keep the blog alive..
ReplyDeleteraghu,
ReplyDeleteI am sorry but I can't help it.
On HCL when I re-analyse it I will post. For now its off the radar.