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Indian Hotels

12 Jan 202103:33 PM

Indian hotels reached the trendline of the highs and solar from there. I can no more call this a leading diagonal because the 5th wave is now larger than the 3rd wave. In other words rally between August and September is the shortest of the 3 rallies that you see on this chart and the 2nd rule of Elliott wave analysis is that the 3rd wave cannot be the shortest. But the rallies are impulsive and therefore am marking it as a series of 1-2-1-2-1-2. It means that the next correction will be another 2nd wave down and may be it will find support at before the lower trendline of the lows near 108

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