DLF: Anticipated Happened and Elliott Wave Analysis

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DLF hourly chart


In my previous dated 11th July 2020 on DLF , I had mentioned that, prices will falter once the level of 145 is broken which can drag prices till 136, prices made a low of 135 and from there it has shown signs of reversal. The yellow shaded part is the fall which was anticipated.

Here is the link of the above article, click here on the link

As of now I think prices have completed wave b of first leg of wave b in form of wave a. This means I am expecting wave b higher which can move up from current levels. Now the first leg of wave b which is wave a is a three wave structure, so wave b of wave b has to be a three wave up move in which wave a and wave b is over and wave c has started which can rally till 80% of of the fall.

The summation is, DLF can rally near till 163 levels which is a minimum target, it can rally further but that can be monitored later.

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Comments

Phani Kumar said…
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21 October 2020 at 15:58
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