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NTPC

30 Sep 202002:56 PM

NTPC - a much asked for update, but I have to wait sometimes for some new evidence like the daily momentum crossing over to the buy-side. Now the big change here in wave count is, marking the entire movement from wave 1 to a new high as wave B of an expanded flat. The recent 5 wave decline to a lower low is wave C or 2 and probably complete at the recent low of 82.10. From there I have marked a minor wave I and ii down. Now, look out for a higher low to form and then a higher high above 88.80. Wave 3 should attempt to go back to a higher high above the wave B high of 108. For ratio analysis note that wave B was 123.6% of wave A, and wave C has a maximum downside up to 161.8% of A near 80. However, it appears that wave C completed 5 waves and momentum turned so it is not necessary that we hit 80. 

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