TITAN (NSE India) shorting opportunityHi All,
I follow Elliott Wave Principle for trading, I am a novice trader (trading since DEC-2015 using the Wave Principle). This is my first post/idea in the forum, so pls forgive any mistakes.
Below is an interesting chart. Request veteran traders to pls review and comment.
On weekly, TITAN has completed its X wave at 379. This X is continuation of correction started from 448 in feb-2015.
X is a complex zigzag in this case; both a of X and c of X are double zigzags.
Weekly chart:
Hourly chart shows completion of c of X.
Hourly chart:
So, shorting at 379 with stop at 382 target below 301.70 (i.e. below beginning of the X wave on weekly) seems a good trade.
Regards,
PT
