If consolidation after a small “5”, it must hold 11925 or 11890-910; if deeper consolidation, it must break it

Based on latest prices, trade plan needs to be fine tuned. Prices have closed above 10Sma 11804 & 50Dsma-11300. In the current scenario, 2 possibilities exist:- 

  1. Prices are rallying up in “B”wave within which “a”wave done from 10670 to 11695 and “b“wave is done @ 11090 & the “c“wave is almost done @ 12003 , holding above 11925.
  2. Corrections done @ 10670 and Prices are impulsing up in a new uptrend with a 1st wave done @ 11695, the 2nd wave done @ 11090, & the 3rd wave is unfolding as long as prices are kept above 11500.

A running correction done keeping above 11820 (low @ 11850) & a new uptrend unfolding with a first 5 done; now, keeping above 11925 or 11890-910, it would be a simple correction; breaking it, there would be deeper correction towards 11800-.

If holds 11940-950, strength would continue towards 11985-995 & above which 12015-030+.

If held below 11985-995, weakness would return towards 11925-935 & below which 11880-895.

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

  1. #1 by Dharmendra Devarajulu on November 7, 2019 - 2:13 PM

    Hello Sir
    Can you pls share the JNSAR file with calculation pls

  2. #2 by emailkailash on November 7, 2019 - 10:23 AM

    Prices are rallying up in “B”wave within which “a”wave done from 10670 to 11695 and “b“wave is done @ 11090 & the “c“wave is almost done @ 12003 , holding above 11925.

    a=c almost done ?

    11695-10670 = 1025 Pts
    11090 + 1025 = 12115

  3. #3 by Bhagwan advani on November 7, 2019 - 7:58 AM

    Jai Shri Ram

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