PNB Housing Finance Elliottwave

PNB Housing Finance Elliottwave

PNB Housing Finance Elliottwave Count : CMP 1363.

Setup developing nicely.  Awaiting correction to end below 1303 over another week or 2.  Keep alerts.

Expanded flat correction playing out in wave 4 of intermediate degree.  Wave 4 of larger degree tends to complete at about the region of wave 4 of 1 lesser degree (i.e. apprx 1,200).  Heightened vigilance once price falls to below 1303 is important.

PNB Housing Finance Elliottwave

PNB Housing Finance Elliottwave 3 day chart

 

Wave C of this correction appears to be playing out in form of an ending diagonal.  Ending Diagonals signify quick reversal in the opposite direction, so should make for a good buying opportunity once wave C is complete.

PNB Housing Finance Elliottwave

PNB Housing Finance Elliottwave 1 day chart

Posted in Elliottwave India.