18 Aug 2020 ● 06:31 AM
The only reason for HPCL lagging the market or giving up after each move could be this. Long term the correction maybe wave 4 and 4th waves can either be complex corrections or triangles that take time to complete. The moves so far are marked as A-B-C and D and E are pending. In other words I guess I should not rule out more long term consolidation in wave 4 before wvae 5 impulse up can really start. The structure of the pattern could change as well as it goes along, but what I am saying is this could take longer than thought earlier.