Namaste Ilango Sir & Blogmates, (Bullish: Bulls saw a perfect consolidation day after the huge up-move of Friday and now on the verge of taking control of 6200 level which can pave the way for a new high all time high in the next few days …: Option Analysis for 21-10-2013Dedicated Option Open Interest BlogDuplicated at Wordpress SiteThanks & Regards,Sanjay Kr Jaiswal
@master and all EW expert seniorsif we take 1st wave from 6033-6152=119 point and 3rd from 6129-6218=89 pointso as per rule (3rd never smallest) this up move from 6163 +89=6252(max limit for 5th wave) then the corrective 4th of major upmove from 5700? and then final 5th? which will end the 3.i in day t/f?is my understanding is right??Please guide me.thanks in advance.
@ anmpatel. . My understanding. .Since 3rd can never be smallest. .5th can do 88 points from 6163 ie till 6251 completing (5) in hour tf and 3(i) daily tf. There after ABC correction will start for wave (1 ie 5701)-(5 ie 6251) completing 3(ii) in daily tf.Then 3(iii) will commence with min tgt of (6251-5701) ie equal to 3(i)
One more point to add, wave 2 can retrace till starting point of wave 1. So wave 3(ii) max tgt can be 5702