The stock market has started recovering. Still, there’s a big question, is Russia and Ukraine war over yet? Start investing during stock market uncertainty using Elliott Wave Projection.
It looks like ASTRAL has accomplished the corrective structure and started forming motive waves.
Price has ceased the sub-wave 5 of motive wave ((c)), and the length of wave (A) is equal to wave (C). So, this is called wave equality, where wave (A) = wave (C).
If the price has bullish sentiments, the ASTRAL will not directly jump to complete the impulsive wave 3, but it will create sub-waves of motive wave 3.
If traders are willing to initiate a long with low-risk setup, they can wait for a pullback of the previous move to reduce the length of stop-loss.
Please note that wave two can never overlap the starting point of wave one.
If the current move exceeds the low of 1769, we can’t consider this an impulsive wave.
Wave three can travel for 161.8% Fibonacci extension of wave one at 2047, and power extension can derive price to 2217.
Traders can expect the following targets for the 3rd wave: .
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.