Airtel 2nd wave was shallow but 4th is deep zig zag and 3rd wave is normal went upto 1.618 that is 622. 5th wave minimal target 0.618 is 641 but would get extended 100% or beyond as well. Signs of extension will be 641 break and channel drawn 3-4 break.
Long on any dip towards 530-515 with stop loss 499.5 Top of wave 1 is 481 ideally that should be stop loss.
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greetings ; disclaimer :i am no expert in Elliott theory ,, but keep doing some models for my own consumption.
That being sald ON AIRTEL i think we could also possibly be in correction wave A and may be heading towards 490 levels.(wave 1 end) before reversing
... unless we cross 550 in which case your model is spot on !!
will be an interesting watch .
thanks for sharing your views. i am a big fan and follower.
Niftydirection
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@kheraash, Thanks Sir, in any case dips are good with SL 481. Would not recommend to trade in FnO though based on this analysis.
avhad580
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@Niftydirection, maybe i thinkthis will be reversal cuz as per pivot level stock is on his support level if nifty supports we can see revrsal trade
That being sald ON AIRTEL i think we could also possibly be in correction wave A and may be heading towards 490 levels.(wave 1 end) before reversing
... unless we cross 550 in which case your model is spot on !!
will be an interesting watch .
thanks for sharing your views. i am a big fan and follower.