18. Applied Elliott Wave Webinar (Crude, Gold, SPX, Nifty 50, Amazon, Aurobindo Pharma) June – July 2020

In this webinar I have discussed practical application of Elliott Wave using various chart including Crude Oil, Gold, SPX, Nifty 50, Aurobindo Pharma (NSE Stock), Amazon (NASDAQ Stock).

Possible trading strategies using Elliott Wave for June and July 2020 have also been discussed wherever applicable.

SPX, Nifty and Aurobindo Pharma analysis done in last webinar played out as expected : 

SPX Analysis (As discussed in last webinar) : 

SPX Analysis suggesting upside move

Outcome of SPX Analysis : 

SPX Final Outcome (Suggested level of 3130 achieved and exceeded)

Nifty Analysis (As discussed in last webinar) :

Nifty Analysis suggesting down then up or straight up movement

Outcome of Nifty Analysis :

Nifty Final Outcome (Went straight up following Red Hypothesis)

Aurobindo Pharma Analysis (As discussed in last webinar) :

Auropharma Analysis suggesting more upside should be seen for Wave 5

Outcome of Aurobindo Pharma Analysis : 

Aurobindo Pharma final outcome

Timestamps : 

• Regarding Training Program LT – 1:00
• Crude – 2:41
• Gold – 9:05
• SPX – 15:55
• Nifty 50 – 27:15
• Amazon (NASDAQ Stock) – 37:18
• Aurobindo Pharma (NSE Stock) – 43:18

This is the 18th in the series of monthly applied Elliott Wave webinars that I have been doing. My name is Neerav. And before giving my introduction and continuing on with the webinar, let’s quickly have a look at the legal disclaimer suggesting that all content presented here will be purely for educational purposes. I’m not soliciting any buy or sell. If you do go on to use the views presented here for your trading or investing then you yourself will be liable for profit loss or loss of profit. Now moving on to quick introduction, I am the owner of this website called www.50eyes.com where I also publish my views in the blog section. If you go on to the homepage of https://50eyes.com.com. You can find the market analysis part the video course and inquiry form for the training program. You can check out my articles either by visiting the market analysis or the last recent articles can be checked out here. And a little bit more about my work I have compiled a list of my track record for 2016,2017 and 2018, which you can check in case you are wondering about the credibility and check the track record which is above industry standards, with the links and everything and it is public. By the way, all these forecasts or analysis were done and posted on YouTube so there is no chance for anything incorrect in it. This is all for the quick introduction. And if you are interested or would like to learn more than you can head on to the video course which is this Elliott Wave video course. Or if you are interested in personal training, then you can head on to this third link on this page, which is called Training Program LT and you can make an inquiry from this form which is present right here for the upcoming batches. The training is done in small groups of three to five and is highly personalized if you are interested. And you can check also the testimonials of our students by going to the testimonials page. Anyways, let’s head on to the actual webinar that we will proceed is that first of all, I will discuss the chart. And after that I’ll just ask you guys if you have any problem or query, the queries must be in regard to the analysis discussed on the chart should not be any fundamental question or out of the context of the discussion done. You can post the queries and I’ll make sure to answer that. The way we will proceed is Crude Oil, Gold, S&P and Nifty and possibly some stock if we have time at the end of the webinar. And let’s start off with Crude Oil, before having a look at the current chart let me just quickly check what I have posted in the last webinars or what we have discussed in the last webinar posted on 24th of May 2020. So that’s a Sunday so 22nd of May 2020 so let’s quickly put a line on 22nd of May over here, so that we know the discussion is done correctly. So this is the 22nd of May 2020. And let’s check the view that I had on Crude Oil. By the way, those of you who are viewing this later as a recording, make sure to turn the video quality to 1080p because the background is black. So videos do not really look good on lesser quality. So crude oil, I guess around four or five something we are discussing it. Yeah, so Crude Oil, the discussion was that we are in a Wave 4 one sec. So we were in a Wave 4 in Crude Oil and I was expecting wave four is either continuing as an Wave A down, Wave B up and Wave C down as a zigzag basically, or it was complete over here. Both possibilities were there. As I recall, my view was a little bit biased towards Wave A down, Wave B up and Wave C down that is I was expecting a little bit more downside. The reason for that was that it had not even touched completely the 23.6 retracement. But the view was that this was a sort of a Wave 4. Let me check if we have some other point made over here. No that was the only point made on the chart of Crude Oil or the main point let’s head on and check the charts. So, market was somewhere over here I was expecting this to be a Wave 4 complete over here or continuing as an ABC. So over here and as we can see the view which was zigzag is not played out. However, theoretically and practically this was an actual Wave 4 because it has played itself out as an ABCDE triangle. So, long story short, the count has followed but if a trade had been conducted; by the way I was not trading this market at that time. If a trade had been conducted, it would had to be active at breakeven or in small loss because there was no bearish moment and after this market went on to take out this high, it was evident that it was either going to be a flat or triangle and in that case, we would have to exit on the next leg down. So let’s look at the count at this current point in time. By the way, just one more thing to point out here the difference between trading and analysis is just clear here, as from an analytical point of view our count did play out properly but from a trading perspective, this trade was a no go. So just a quick difference to show that those two things are quite different or can be quite different at times. Anyways let’s look at the price action at this point in time where I have labeled this as a. Let’s check the green count first Hypothesis 2, which is one over here two circle over here. And three circle is continuing so, by the way, keep in mind that this Wave Three circled could have completed over here, because at the end of the day this can be counted as a Wave One up, two down, three up, four down and five up. So, or it can have one leg up remaining before it falls down for the circled Wave four correction. So, whatever the case is either this Wave three circled is complete over here or it has one leg up remaining, both cases we are waiting for a corrective leg down right. And in that corrective leg down we will expect the market to go at least near that 23.6 Retracement level which I have already measured and marked over here but keep in mind I have marked it considering the starting point of Wave two over here and the ending point of Wave three circled over here. So basically I have made a retracement from the starting point of Wave two to the ending point of Wave three. Assuming that three is already complete, however, as I just mentioned since it is unclear if Wave Three is complete or has one leg upside remaining, we should not consider these levels as of now. So what I’ll do is I’ll just put them on top of one another so that I don’t get confused in actual trading session. So yeah, that’s the analysis a better confirmation will be a break of this Wave two to Wave four trendline, do keep in mind trend line breaks can be false. That is it can give a spike or one like down below the trend line and then go up. So wait for a proper candle closing below the trend line significantly. That is it should be a visible break. It should not be like just that you put an alert on this thing. By the way, you can put alert on trend lines on trading view if you didn’t already know. Go to exiting channel and put an alert on it. But once the alert is triggered, keep in mind you have to wait for a clear candle to close below it for any possibility of a proper trade setup. Otherwise it can just be a false break. So basically, that’s all for the simplistic analysis on Crude Oil. It is following the counts as we had discussed previously, so nothing new here. Let me know if there is any query on it. I don’t think there might be because it was quite clear, but do type clear in the comment section or a query if you have any other participants as well if you guys aren’t clear on this discussion, or if you have any doubt, let me know in the comments. If you are clear, just type in clear. Okay, I’ll just move on. To the next chart in that case, Gold (XAU/USD) and let’s quickly check what the view was on Gold in the last discussion and Gold is around 1320, 1314 something here. I guess this is the, Yeah, this is the analysis on gold The view was that either this Wave Y is complete over here and should be followed by a down leg or it may have one leg up remaining and then it will form a reversal in the downward direction. In either case, we were waiting for a proper selling opportunity, unclear if the reversal will start from right here or after one leg up. So, from this analysis and the current market price action. The analysis has been followed quite well. It has gone up So it is basically suggesting that either this Wave Y is continuing, that would mean that we have to relegate this and take the Wave B over here, move the Wave C over there and there will be a leg higher than the last high which is about 1764. Once 1764 is taken to the upside, then we will try to figure out some selling opportunities on this counter. I’ll just try to explain it a little bit in more detail as well from this point of reference, which is the low of about 1448 coun is taken as a W-X-Y complex correction. By the way, from second look, I think this is better taken as a triple zigzag instead of Wave Y continuing. So, I’ll just use the triple zigzag labeling over here. So first leg up, second leg down. And this is what you call Wave Y up and Wave X down either complete here or will be continuing sideways and Z’s degree is orange and one degree higher. So, those of you who are not very familiar with Elliot wave corrections, triple Zig Zag correction is basically three waves up followed by three waves down, first wave up is called Wave W. Correction down is called Wave X. Next leg up as three called a Wave Y next leg down is three called Wave X again and next leg up is called a Wave Z. So if we compare this right hand side figure with the actual price action, Wave W is complete over here, will be visible to you more clearly on the lower timeframe we are on the daily chart by the way, Wave W is complete over here Wave X is taken to be complete over here, and Wave Y I am assuming complete over here. Keep that in mind that this Wave Y is a bit controversial, you can say that it is probably still continuing as well, or you can just relegate the triple zigzag and just say that this is a more complex Wave B over here and this is the Wave Y, but at the end of the day, it doesn’t really matter because even the triple zigzag correction is suggesting that we will have one leg up before the correction starts. And even if you move the Wave B over here, and the Wave Y over here, it remains the same. So, it was just a bit convenient for me to type it in as W-X- Y-X-Z so I did it like that. So, fact of the matter is it is following over rough figure; quite well. We have the W’s and x and y and x again and Z will be the last leg which should take out the high of 1765.30 something. So, once this is taken out, then I will try to figure out if there is a clear impulse up. And from there on, try to do some short term analysis for instance, waiting for the break of the Wave four have that clear impulse up or some other pattern or structure which might make the trade happen at that point in time. But for now, I can only comment on this much. Or I can only comment this much on this chart. Second outlook for this or second count for this chart, which is quite low probabilities, is you can say Wave B is complete already here and this is an impulse in the upward direction I’m not really in agreement with this count because this B is rather very small in time and generally Wave B being a corrective wave should correct itself in time as well alongside price, so I’m not in alignment with count but if this is the count being followed that Wave B is complete here then this will be the Wave C up and then in that case it can go a little bit more higher than just a small leg up. That’s for our quick look on Gold. So, yeah, my main view is that it should give a bit more correction in time also, possibly this whole structure might prove itself to be a triangle. That is from this point onwards it might as well be a structure like this. So that just gives more confidence that sideways to bearish movement short term can be expected. So that is all for our quick look on Gold, I won’t be putting out any targets on this just yet 1800 is a good resistance over here, maybe we can see the reversal or the up leg till that level and then the reversal from there on. But for now there won’t be much in terms of target for this market. So quickly let me know if there is any doubt on the chart of Gold (XAU/USD) or we can move to the next discussion which will be S&P 500 . Other participants please also type in quickly so that we know that everyones clear. Okay, so I got some confirmations. I’m assuming others are also clear here. Let’s head on to S&P 500 and see what this market is on about, before let’s check the analysis posted last time on this chart. So which is around what 20, 23 something minute. Here, this is some short term trade I’m talking about. Okay, so this is the count of S&P in the last discussion, we were assuming that this is going for a triple exact correction, as I just discussed on the chart of Gold, Wave W up, Wave X down, Wave Y up, Wave X down and Wave Z up is remaining. And our view was that either it will go straight up from here or the major view was that it will give a small correction and then go up basically and the target levels we were expecting were this last high over here, the resistance zone and specifically the level of 3130. I recall I was mentioning and it was also discussed in the last webinar, the level of 3130 can act as a resistance or should be taken as a possible target to the upside for this market. But that was our main view expecting W-X-Y-X and Wave Z up minimum target expectation was 3130. Let’s have a look at the market at this point in time. First, let me mark the date of 22nd May Somewhere over here the market was when we did the last discussion. And from there on, let’s check the last high made by this market is 3233 and 3130 is over here. So basically this target has been achieved. So the minimum upside Target has been achieved and then exceeded. So, the counter played out as expected. But I have updated a few things over here. First of all in the last analysis, I was assuming Wave W here, Wave X here and Wave Y here and Wave X here. And as per that count, this will be the Wave Z complete. This is again still a valid count, but I have considered a few more possibilities as well. If this is the valid count, let’s consider this as over Hypo 1 or first Hypothesis, if this is a valid count, then that would mean That the whole leg is complete or the whole movement to the upside is complete. And this market is now going to move in a downward direction and it should do so at least in three waves and this could be the first wave from it, this can actually be taken as a 12345. So, there is no denying that this can be considered as an impulse. Right. And if this is an impulse, then again a correction here and then next leg down as another impulse, basically a ABC minimum is what we will look for if that is what this market is doing. So, that’s one way of looking at it. So Hypothesis 1 is basically, downward movement. Second view, which is the updated view is assuming that Wave Y is over here, Wavw X is either complete here or might be continuing sideways and one last leg up is still remaining. So now this view comes into play because if we look at NASDAQ, the NASDAQ has already made new lifetime highs, right. So it is quite possible that S&P will also give at least challenge to the last high or atleast try to go near it. It basically hasn’t even touched the 90% of this movement down. So at least I’m expecting it to touch that, it has gone near it. If we just check the labelings. So you can see it’s quite near to 90%. But from a practical standpoint, I think it can touch it. So that’s why I am a little bit biased and thinking that one leg up might be remaining on this counter. However, I will say that I’m not clear of which count it is following. Both counts are quite probable at this point. This W X Y Z looks quite pleasing and looks quite symmetrical to be precise. And if I just modified the Wave Y over here Wave X over here, then this does not look very symmetrical, but as I just mentioned, I’m looking for the 90% leve. It is also possible that Wave X is continuing as a zigzag after all this is a very impulsive looking leg down. So, Wave X is unclear and it is also unclear that if Wave Z is complete over here and this is a straight down leg or if Wave Z is not complete over here and this will give a small correction down and then leg up right. So I will say unclear on S&P 500. Right. From a short term basis. We can figure out some trades on this one but from a swing perspective, it’s a wait and watch kind of market. And just to give a rough outlook from this point of reference, if we consider this as a 12345 as an impulse down, then we can take this as an Wave A up ,Wave B down and Wave C up. So we can say this is an A, and this will be a B, and then there will be a C that we can then label as an X. And then there will be the Z leg up, which I’ve been talking about. As per one of the hypothesis. Another possibility could be that Wave Z was complete over here. In that case, this could be even wave one, and not A wave two, and not B, and three, and not X, and in that case, this will be a lot faster. Because Wave three is obviously faster than Wave C of a Zig Zag. So from a short term perspective, we can say that this count can be followed. This count is very likely count from a shorter term perspective and keep that in mind. It might be followed in the live market and at least short term trades we can do, swings will become clear with more price action printed on the chart. And if discount is followed, then we can do a little bit more short term analysis. Let’s check this retracement for this leg down and then I’ll just put in the 50-60 retracement which I think has already been touched, right. So that means this market, if it has one leg up remaining for the expected Wave B, then we will just mark that Wave B and from there on we will measure the length of this A leg down and project the C leg down basically in a zigzag Wave A and C are quite commonly equal. So, the C leg will be equal in price movement to the A leg, generally speaking; not always. So that is exactly what I’m suggesting, in case this count is followed and you see that there is an ABC very clear. And if there is a very clear sell opportunity here, then to figure out the targets and your risk rewards, because the risk in this case will be the swing highe as stop loss and the reward will be lower than this level, I mean the target minimum will be lower than the last low of 2945. So, in that case, you can just measure this leg down projected from here. So, measure this leg down, project it from wherever this reversal starts and that will be your 1:1 and that will be also considered as your possible target to the downside. So, minimum target if this count is followed as I just mentioned will be the level of 2937 from this chart. So that’s all for our short term analysis as I mentioned swing is a bit unclear. So, short term we can think of this kind of play in this market. Let me know if you guys have any query on this counter or we can just move on to the chart of Nifty. Okay, I see a bit of confirmations here. Question : There is a gap that was formed what is the probabilty that it could get filled.Where is the gap. Actually this is a continuous charge, CFD basically. So maybe you are talking about the gap on the actual sport chart. Yeah, so you’re talking about the spot charts, so I can’t really be comparing it with that because this is a continuous chart we are following so no gaps like that here. But this chart, even if you just consider it in the light of the gap is already considering the big fall there as a candle. So this candle ahould just hold fine. It shouldn’t really matter. Okay, I think everyone is clear on this chart so we can then just move on to the chart of Nifty here then. So Nifty. Let’s check quickly over the last analysis was on Nifty around 32. Okay, so this is the analysis done last time. I was expecting one leg down before the next leg up, the targets were this high. I’m not sure what the exact targets were but obviously, we were expecting a movement little bit higher than the last swing high, possibly going on till this level of around 10,00. So basically in the last count, we were expecting one leg down and then a leg up. And the reasoning was that this 50-60 level or not even 50-60 level, just the 50% was not touched either, the market was above the 50% retracement. So I was expecting at least it to touch that level and then go up rather than just straight out go up. That was our Hypothesis 1, a little bit downward movement to be followed by upward movement. And Hypothesis 2 or the second main hypothesis was that straight up movement can be seen as represented by this red arrow. So what really happened is it just went straight up from that level. Let’s have a look at the chart. 22nd May, Alt + V (for Vertical Line) Here I was expecting down and then up or straight up secondary view, it went straight up, so basically since the direction was on the upward side, theoretically you can say that it was followed but not really the exact or the proper way that I was expecting. I think I was able to catch a few long’s on the upward movement over here in stocks, not in the actual index. But as such the count sort of did follow. But anyways, let’s have a look at the exact picture right now. There are multiple views on this chart. First one, which is a bit different than what I have on charts is the possibility of this as a leading diagonal right.If that’s a possible case here then it should later on give a correction and then another leg up. At this point, it does look like very likely case. And it will also consume a lot of time that’s also there. By the way, it should go a little bit more higher, or it can go a little bit further than this level as well, before giving this correction and then leg up. that’s one scenario that I have in mind leading diagonal followed by down leg and it’s rather clear on this chart and looking at the complex counts. I think I’ve already labeled the complex ones. So the complex counts I’m assuming that this is the W followed by the X, Y and X. And this is the A, B and C for the Z, just again to clarify to the new participants here in the W-X-Y-X-Z correction, the Waves Z will have three waves in it, right. So, basically if this is the W-X-Y-X-Z then this Wave Z if you magnify it will look something like this Wave A up B down and C up as a zigzag. So, if that is the case then this Wave Z is moving to the upper side, then I can say that we have the Wave A over here, Wavw B down and Wave C up should follow. It might be the case that B is still continuing. I don’t really have evidence that the B is complete here or is it still continuing but that doesn’t really matter. The fact remains that it will give a leg higher than the last high. Again the standard ratios of Zig Zag correction should hold, that is if this is the B then you can measure this leg up project the 61.8 of this leg up and one is to one, that is 100% of this leg up from this end of Wave B, right. So, roughly speaking if this is A and this is B actually complete which we do not have evidence for, roughly speaking it can go till 111 85 something level. If this is the Wave B complete and if it follows the one to one count precisely, it can also just stop near 61.8. So, in that case, maybe it will complete this gap, which is roughly coming around the level of 11 463. So I don’t really know but the clear part which which I was able to see in live market was this move, which I was able to capitalize on as well. Of course, it can just jump higher in the next session if this is really a Wave C continuing. But the clear moment is already gone on this counter. One is to one targets as I just mentioned, were 11,850 something levels and the target lower than that was this 11,400 something level. So that will be our upside view if this count is being followed. And in case the market decides to not follow this count properly. That is to say that not to achieve these targets, then keep in mind that minimum requirement for a Wave Z is just to take out the last high. If it does something like that, I would say very low probability. But theoretically and practically I’ve seen that happen. So it can take place and it can just not follow any of the counts. So, yeah, accordingly you can do your own analysis and check this market, but I think there will be trades forming on this. For instance, if we see a proper flat type of move over here, again, to those of you guys who do not know what a flat correction is, I will give a rough outlook flat is three down, three up and then five down correction. So three down is called Wave A, three up will be called a Wave B. Five down is called a Wave C, that is what’s being followed over here. Then you can say dot A is complete, dot B is there, and dot C will fall down. And if it forms and if it’s very, very clear, then we can plan to take trades near the end of this leg which should at least go higher than the last high. So, there will be some good risk reward trades forming. If it follows that obviously, I will have to check the charts on lower timeframe at that point in time. But just to point out that this is a trade idea which can happen over the session or coming session. I guess that’s all for our discussion on Nifty 50. Gold is following over last posted count Crude Oil has followed S&P has followed Nifty sort of has followed not precisely, so a good last month The trades were quite clear I was able to take a good number of trades myself on stocks as well. Let me know if you have any queries in the comment section. Question : Can it be ABCD from March low ? There is no ABCDE ABCD is four triangles and please use your full name while registering for the webinars. If you are mentioning that it’s a 12345 then I’ve already considered the count of leading diagonal. What about the other guys so you guys clear Okay, so we can have a look at one or two stocks. We have a bit of time on our hands. I think Last time we were discussing Amazon let’s check Amazon. So there is the chart for Amazon and let’s quickly have a look at what was discussed in the last one. Amazon is at 46:37 min. okay so Amazon there were two views first view was a possibility that Wave four is either already complete and this is the Wave five up, which may have completed or may have one leg up remaining second count was that this is not the case and Wave four is still continuing followed by one leg up. So the counts were a bit unclear but I did mention that this counter will give a clear trade sooner than later. Those were; I think the precise words and I think it did. Let’s have a look at the current price action on the Amazon chart let’s mark the date of 22nd of May. So, as we can see the Wave 4 was actually continuing It was not already complete and Wave five had not already formed. Not only is Wave four continuing it is a very clear triangle count A-B-C-D-E and this is by the way a very clear chart. And this is what you can call a high <span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>probabili<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_end”></span>ty kind of scenario here and the reason for that is first of all this count is very clear not over here, but from the point of reference, which is somewhere around 1625 from roughly speaking around 16th or 13 March 2020. Secondly, a high probability scenario because the upper trendline or the triangle or the B-D trend line, which is this line is not only breached but retested and then the market after the retest has broken above the high. This is by the way considered a good opportunity not only from an Elliott Wave trading point of view, but even standard Price Action traders will consider this a good opportunity because they do keep drawing multiple trend lines and even in price action terminology this is a triangle. Generally speaking in price action many things they can consider a triangle, Elliot wave has separate rules for it. So can’t really compare them, but in this case to be more clear, if there is an Elliott Wave triangle, then price action traders will generally consider that as a triangle but a triangle from a price action trading perspective may or may not be Elliott Wave triangle. So, basically vice versa is not true. Anyways leaving the theory aside, this looks like a proper setup here. And reward I can have some targets on the upside but the risk is is clear here. If it goes below the Wave two low then obviously this count is incorrect. And it is doing something else. And if this count is correct, then possibly Monday it might as well open gap up, right. and head on for the Wave three. Generally speaking, wave three can be 161.8 of Wave one projected from two so I will use the Fibonacci trend based extension tool, I will measure the Wave one up and project it from the end of Wave two. And 161.8 is roughly coming around the level of 2869 so that can be taken as one target a conservative target if you were trading intraday would have been one to one. But that is of no consequence now because it is right above the current price action level. So, I think this market is very clear so keep that in mind and maybe some trades you can form on it on Monday. If it does not open gap up over here. I mean, in that case, the minimum targets will already be hit. So that’s our quick look on Amazon here. By the way, you guys clear on this chart or not do type it in In the comments section before we proceed with anything else. Last chart I think we were looking at Aurobindo pharma, I wouldn’t consider that as a very clear count or anything because it’s not really doing much of anything worthy of our attention, but just because we were tracking it. So let’s have a quick look at that as well. Auro Pharma. And before that, let’s have a look at what we discussed in the last webinar on that chart. Time = 43:50 right. So this is before Amazon. Yeah, so here the view was this Wave four is continuing, one up, two, down, three up four continuing and then there should be a leg up and the view was that once that leg up is complete, then some short term selling opportunities or swing selling opportunities might become evident on this counter. So that was our view; back in time. Now, let’s have a look at the chart. At the current point in time. And in the current scenario I haven’t really updated it precisely. but let’s have a look any who’s 22nd of May. So somewhere over here, we were saying that some sort of Wave 4 is continuing. And then it will go up for Wave five. Now, although practically, it has gone up, and even though you were trading it, it would have been in plus. But the problem is that it does not look like a Wave five up. It looks like it is some sort of I mean, it is wave five of a lower degree of that is the Wave five of this Wave three. That’s what I’m trying to say. So basically, a change in count has been made over here is the whole point over here. I’ll just remove the past counts, not really of any consequence now. If this is the new count, then somewhere over here either this is a three or maybe that is a three, it is still unclear to me. Only thing is that we can wait for this correction to complete and once the same is complete, then we can draw these trend lines 2-4 and project the targets for Wave five. So roughly speaking, this market has either started the Wave four correction or if the Wave three is still continuing, then Wave four will take some more time and then there will be a Wave five. So, basically it’s a wait and watch kind of market it’s not something we will be trading at this point in time. Neither will I waste my time labelling it, but it was just a follow up because it was discussed in our last session. So I guess I’ve discussed all the charts that there were to discuss and we are almost near our time limit as well. Do let me know if there is any query on this last chart. If you guys are clear then do type that in as well, that you are clear. Also, to those of you who are remaining till the end, how about you just give me a feedback on the clarity of this mic? Is the audio sounding clearer than my previous live webinars or is it just the same or worse? clearer, okay. I mean, comparatively to the last one, not just in reference to the current scenario. Okay guys, I think we have no issues on the charts discuss. So I’ll just stop the recording.

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