Caveat The labelling should have been at least one degree higher . As I ran out of labels in the last five wave move . But anyway it tells the overall movement.
Elliot guidelines used
1. Correction will reach minimum of wave 4 of one lesser degree especially if it a wave 4 correction at a higher degree.
2. If wave 5 is an ED diagonal . The move will be swift and may go to the point where the pattern started .
Tata Motors is in a complex correction and is currently in wave A if (y) .
Within the wave A we are in wave 4 at the highest degree . I am showing wave 4 correction at two degrees but it is a minimum three degrees. See the first line . So there is an upward pull at 3 degrees at least . And seeing the guidelines it should go to 460 subwave 4 of 3 degrees less or 480 sub wave 4 of 2 degrees less. Then short for a swift wave 5 down to complete A of Y for a target of 395 - 400 . Then a move up in wave B of Y can be expected .
Kindly note : This is just a part of bigger complex correction . The last five wave move is not a perfect ED . But there was no other way to label it . That may be the reason the wave 4 move is not so swift.
Elliot guidelines used
1. Correction will reach minimum of wave 4 of one lesser degree especially if it a wave 4 correction at a higher degree.
2. If wave 5 is an ED diagonal . The move will be swift and may go to the point where the pattern started .
Tata Motors is in a complex correction and is currently in wave A if (y) .
Within the wave A we are in wave 4 at the highest degree . I am showing wave 4 correction at two degrees but it is a minimum three degrees. See the first line . So there is an upward pull at 3 degrees at least . And seeing the guidelines it should go to 460 subwave 4 of 3 degrees less or 480 sub wave 4 of 2 degrees less. Then short for a swift wave 5 down to complete A of Y for a target of 395 - 400 . Then a move up in wave B of Y can be expected .
Kindly note : This is just a part of bigger complex correction . The last five wave move is not a perfect ED . But there was no other way to label it . That may be the reason the wave 4 move is not so swift.