Ewaves and Echannels from Rs 44 to the current price

26 мая 2018 г.

Analyzing the wave frm Rs 44 to present price of Rs 340

1. Since the lowest to highest price ratio is more than 3:1 log scale should be used to analyze any chart . But in case of yes bank log scale does not seem to work . Now think why ?


2. Taking the weekly chart.

3. The guideline of channelling will be explored deeper .

4. Remember that wave 1 and 2 formed in Yes Bank is only one type of formation . There are many kinds of wave 1 and 2 formation . We are exploring the one which happens in large cap stocks .

5. Base channel : Join the start of wave 1 and the end of wave 2 and make a parallel channel from the end of wave 1 . The top channel line, If the wave is normal it will give u the end of wave 4 !!!! Wave 4 will end at the top of the channel line or just briefly enter it . In this case wave A of the wave 4 triangle signals the price correction. Rest is time correction. Wave 4 is most probably a triangle Because of alteration and we normally find triangles in wave 4 position . Strategy buy Yes Bank every time it touches the upper channel line. Its the Red Channel

6. Every impulse wave must fall into an Elliott channel . If there are no extended waves then it should fall inside the base channel. It there is wave extension the base channel will be broken . The extended wave should also fall in a channel which is drawn by connecting waves 2 and 4 and drawning a parallel from the top of wave 1 or 3 to give the end of wave 5 . Your count is incorrect if channelling is not harmonious. See the black channel for 1 and 3 (extended) and Mangenta channel for the entire wave frm Rs 44.