Breaking 12120, A = C = 12272 – (12431 – 12088) = “11929”

Based on latest prices, trade plan needs to be fine tuned. Prices have closed below 10Sma 12246 & 50Dsma-12124. In the current scenario, 2 possibilities exist:- 

  1.  A (4th) wave unfolding breaking 12120 & till it holds 11800-830. 

If remains below 12135-145, weakness would continue towards 12035-045 & below which 11965-980.

If remains above 12035-045 strength would return towards 12135-145 & above which 12185-200.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

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First critical resistances placed @ 12285-295 zone…

Based on latest prices, trade plan needs to be fine tuned. Prices have closed below 10Sma 12267 but above 50Dsma-12119. In the current scenario, 2 possibilities exist:- 

  1.  A (2)nd wave unfolding  till it holds 12120
  2.  A (4th) wave unfolding when breaks 12120 & till it holds 11800-830. 

If remains above 12210-220 strength would continue towards 12285-295 & above which 12325-340.

If remains below 12285-295, weakness would return towards 12210-220 & below which 12165-12180.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

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12215-225 would be critical resistance while 12150-160, a critical support…

Based on latest prices, trade plan needs to be fine tuned. Prices have closed below 10Sma 12268 but above 50Dsma-12112. In the current scenario, 2 possibilities exist:- 

  1.  A (2)nd wave unfolding  till it holds 12075-120
  2.  A (4th) wave unfolding till it holds 11800-830. 

If remains above 12150-160 strength would continue towards 12215-225 & above which 12245-260.

If remains below 12215-225, weakness would return towards 12150-160 & below which 12105-12120.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

Read the rest of this entry »

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