FOR INDIAN TRADERS -- ABB LIMITED

In this stock, we can come up with two strong wave counts. The pink one represents the actual wave count and the blue one the alternative count. I had to use various fibonacci levels to come up with these counts. The wave five of actual wave count is an ending diagonal in my opinion (3-3-3-3-3 wave structure) and hence indicates that in the longer term, prices may go down. In the short term, both the counts indicate a bullish scenario till 1395 (or) 1439 levels. This gives us a priceless opportunity to switch to a shorter time frame(15 mins preferably) and go long at breakouts or retracements. If it does move as expected, I will shortly post my next view on the stock when the price levels are reached.

Trade well :)