AXISBANK - Elliott wave analysis - 5th wave up

AXISBANK - it is in 5th internal wave of C up. stop loss is 584. 40 target will be above 612 or higher.


I am sorry but it is in a complex correction. See structure. Correction always takes more time. The motive wave should always be above 45 degrees angle. We are in wave B of the major trend. Wave B is itself a complex correction as I said. The second possibility is wave C downside with 5th wave failure. But I think that will not be the case as we see 4 hr chart All waves are 3 wave structure internally. And One important sign of correction is waves are overlapping before 161.8% cross and that is showing in this structure.Thanz my personal view as per my learning and experiece. Take it in positive spirit.
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