ACC: Neo Wave Diametric pattern

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 ACC daily chart


As shown in the above chart, prices are moving in a sideways direction after a stupendous rally, this sideways pattern are a sign of caution as there are high chances of a distribution pattern happening at higher levels.

Wave theory suggests that, prices are moving in a Neo Wave Diametric pattern, which is a seven leg pattern (a-b-c-d-e-f-g) and in wave g there is a high possibility of a triangle pattern. Once wave g is over, prices are expected to falter till 1850 levels.

The summation is ACC can move down till 1850 levels over short term, once the level of 2100 is broken decisively.

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