Preferred EW counts are marked in Green.
5 waves completed at 139 from the lows of 88. Follow the retrace for the rise from 88 to 139 to know the probable end of this correction.
Fall from 139 to 116 is in 3 waves and seems wave A of ABC is completed at 116.
Now follow the retrace for the fall from 139 to 116 to know probable end of wave B.
Alternate counts are marked in Red (Bullish)
Its a possibility that correction for the rise from 88 to 139 completed at 116 and new set of 5 waves commenced from 116 as wave (iii). Probable target for wave (iii) might be around 198.
Pattern: INHS pattern can be observed in 60 mins chart.
Breakout above 121.10, T1: 123.85; T2: 126.20; SL at 118.30 post breakout
5 waves completed at 139 from the lows of 88. Follow the retrace for the rise from 88 to 139 to know the probable end of this correction.
Fall from 139 to 116 is in 3 waves and seems wave A of ABC is completed at 116.
Now follow the retrace for the fall from 139 to 116 to know probable end of wave B.
Alternate counts are marked in Red (Bullish)
Its a possibility that correction for the rise from 88 to 139 completed at 116 and new set of 5 waves commenced from 116 as wave (iii). Probable target for wave (iii) might be around 198.
Pattern: INHS pattern can be observed in 60 mins chart.
Breakout above 121.10, T1: 123.85; T2: 126.20; SL at 118.30 post breakout
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