Hero Honda - Elliott Wave Analysis

by Dean Market Profile on Friday, May 04, 2012 in Heromoto, Stocks

The first three wave corrective move turned out to be wave A of the " flat correction", we then completed a three wave advance in wave B, now we have started the fall in wave C of {II}. This could be a sharp fall as we can see from the start of it. The possible range for wave C is 1700 - 1575. Once we reach this zone we can look for possible reversal patterns. Till then it would be prudent to short every rise (albeit a 3 wave one).

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

3 comments:

hari30 June 2012 at 15:33
Could you pl do follow up for Heromotor as it is rallying now along with nifty
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Friday, May 04, 2012

Hero Honda - Elliott Wave Analysis

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