Due to the presence of leading diagonals, there was a retracement of about 78%. Now is the time to buy the stock as the"UP" trend is going to start.
Comment:
This is just for educational purpose, buying or selling of securities should be done at your own risk
Comment:
As per wave theory, retracements can go further down, more than 78%, but it should not breach the start of wave 1 as wave 2 cannot be larger than wave one. If it breaches the start of wave 1 then the wave analysis is wrong. let's wait and watch.
Comment:
triangle has formed which means that we are in the 4th wave and the fifth of the fifth will be starting, so enjoy and yes the wave analysis is working and it is within the channel which I have updated. the mistake made was that I had marked the wave prematurely. THE LAST WAVE 5th of the 5th is still left.
