Biocon:1093 can correct to ₹786. My Musing on Finding TOPS
Even though the greatest financial Gain or loss happen at price extremes, Wave theory is the quantification and structuralize of mass psychology. Awfully, the periods of pessimism and euphoria is seldom conveniently peaks at price tops and bottoms.
General mistake made by Eliotian is that of starting wave counting from the lowest low or highest high of a market advance or decline. Because the price lows and highs are easy to identify, most of them simply assumes, the wave counts begin there.
To identify the top, one must follow the wave behavior, pattern structure, and Fibonacci relations. The Post-pattern price action must confirm the analyst's assumptions by producing specific, defined behavior. There is a visual appearance of a market top and then the structural & technical reality. Combined all, it is called the Theory of Relativity, finally when the psychology has run its course and the uptrend is over, a decline larger and faster than any corrective decline during the advance must happen to start the new downtrend. See the fall in Blue circle.
General mistake made by Eliotian is that of starting wave counting from the lowest low or highest high of a market advance or decline. Because the price lows and highs are easy to identify, most of them simply assumes, the wave counts begin there.
To identify the top, one must follow the wave behavior, pattern structure, and Fibonacci relations. The Post-pattern price action must confirm the analyst's assumptions by producing specific, defined behavior. There is a visual appearance of a market top and then the structural & technical reality. Combined all, it is called the Theory of Relativity, finally when the psychology has run its course and the uptrend is over, a decline larger and faster than any corrective decline during the advance must happen to start the new downtrend. See the fall in Blue circle.
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1064 close
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(C) is running, an it could be greater than (A)
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983
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will change the chart