Hi Tekkie: I wish to learn the basis of drwaing the circle in the chart. I mean how do we determine where its centre should be. Please advise . thanks...
Take the previous high and low, increase the diameter by a radius length.
I think this abc correction can go up to 8306 if 8306 is taken then 8183
Yes Naveen. Out of the 2nd xabc formation, wave a ended at 8620 levels.Thereafter wave b down had started. Currently we are in wave a of b. This seems to have completed at around 8272 levels. Then on, b of wave a is on.I expect wave a itself to be completed by December 20-24 .At that point it should be either at 8179 or 8074 depending on severity of wave c of a. That will be a fine buying point for a larger wave b of b to unfold.
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