Bajaj Finance Neo wave counts

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we might be ending wave D of neutral triangle in bajaj finance as it seems like wave d took form of a regular flat and target of 100% extention of sub-wave A for sub-wave C is coming at 6457.We also have channel support near those levels along with wave B price action zone starting at 6477 and price touching 6477 level would ful-fill wave D criteria of Neutral triangle. I am not including momentum indicator as it wud be oversold only.Although shown trendline is not B-D trendline but can be considered as significant trend line as we had 4 touch points and going ahead we can see it providing rasistance for wave E bounce.

As of now if we get reversal candle followed by a close above reversal candle's high then we can go long for wave E bounce with the reversal candle low as our stop-loss and expect 5-6% of move on the upside unfolding in the form of wave E.

Analysis provided here doesnt state that one should go long straight away rather one should wait for price action to confirm end of wave D.

I will update this idea once we get trade setup for long trade.

Disclamer:This are just my views and i am publishing this for my future reference.

٢٢ ديسمبر ٢٠٢١

ملاحظة

we are in wave d sub wave c sub wave 4 sub wave c sub wave 3 or 5.Going ahead i am expecting current up move to continue till atleast 6831,however it can even continue till 6900.Any bearish reversal candle in the shown box can trigger fresh selling which would again take price to 6450 levels to complete wave 5 of wave c of wave d.

٢٣ ديسمبر ٢٠٢١

ملاحظة

Seems like wave 4 has ended and wave 5 hsa begun.One can short at cmp of 6930 with hourly closing stop of 7000 and target of 6700 and 6600