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<p>Two levels of fractals at work here. Wave 3=1 is at 118 for the 3rd wave that started from the Oct low. But the 3rd wave is subdividing into 5 waves and then 3 of 3 would be equal to 1 of 3 near 126. So by that nature, wave 3 that started from Oct is extending and subdividing into 5 waves itself.</p>
<p><img src="https://api-media.indiacharts.com/public/images/article-images/tatapower81507.png" alt="and then 3 of 3 would be equal to 1 of 3 near 126. So by that nature, wave 3 that started from Oct is extending and subdividing into 5 waves itself." width="723" height="525" /></p>

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