NBCC – When wave 5 has to be shortest, a reversal is due.

NBCC Elliott Wave Analysis. As on 12 Nov 2018. CMP 66

We absolutely nailed this call.  When wave 5 has to be shortest, it wasn’t difficult to predict a substantial rally is due.

From our previous post :

Quote 

NBCC Elliott Wave Analysis. As on 30 Oct 2018. CMP 53

Even tho’ price declined slightly below the previous low of 51, we believe a substantial rally is due.  Await a small 5 wave up on the 5 / 15 minute chart before going long.

Also note that wave 1 of the decline is the largest wave, wave 3 is next largest, therefore wave 5 must be the smallest wave.  We expect a substantial counter-trend rally to start anytime.

Target : **restricted**

Note the larger trend on this stock is down, and this is a counter-trend trade.

Unquote (Below charts are from Oct 30).  Pls scroll down lower for updated analysis and charts.

 

12 Nov 2018 Update.

The counter trend rally reached almost 69.  Price could dip for a while and then rally again to **restricted**