According to wave analysis, financial markets move in a pattern of five waves in the direction of the larger trend, followed by three waves in a correction of the trend. The five-wave movement is called an impulse wave, while the three-wave movement is called a corrective wave.
In the case of Axis Bank, the completion of five waves of (A) and three waves of (B) suggests that the focus has now shifted to wave (C), which is currently in progress. The completion of wave (C) would mark the completion of the entire pattern, and traders and investors would then look for potential reversal or continuation signals in the price action.
As of now, wave 1 of (C) is currently underway, and it will be interesting to see how the price action unfolds in the coming days and weeks. Traders and investors will likely monitor the progress of wave (C) closely to identify potential trading opportunities and manage their risk effectively.
Regards
In the case of Axis Bank, the completion of five waves of (A) and three waves of (B) suggests that the focus has now shifted to wave (C), which is currently in progress. The completion of wave (C) would mark the completion of the entire pattern, and traders and investors would then look for potential reversal or continuation signals in the price action.
As of now, wave 1 of (C) is currently underway, and it will be interesting to see how the price action unfolds in the coming days and weeks. Traders and investors will likely monitor the progress of wave (C) closely to identify potential trading opportunities and manage their risk effectively.
Regards