Recently I had shared my Elliott Wave view on ITC on a YouTube where we expected that the stock may enter in 3^rd of 3^rd , perhaps the strongest impulse move. You can check detailed analysis on YouTube.

As explained in a Video once the stock broke the high of 219.4, it gave a strong directional move. It posted a high of 245.8 on 22^nd September, 2021 and witnessed a minor pullback. (See below chart)

The pullback which I had updated on Telegram channel too was nothing but wave iv of the Wave 3. And it was a classical Set Up 1 Buy opportunity as per my online Elliott Wave Couse “Waves Of Wealth”.

The opportunity was identified and exploited by one of our course subscribers. The labelling of the sub-waves of Wave 3 was done as follow.

Let us understand the Fibo relationship among the sub-waves of Wave (3) labelled in pink roman.

As mentioned, I also updated on Telegram that the retracement towards 230-228 might be a great opportunity. (See below image)

The course subscriber also anticipated the natural profit booking in wave iv and started adding in the range of 230-233, assuming the correction is going to be shallow. And as expected the stock witnessed a sharp recovery from 230 levels. DMA tool that I have explained in details in my online Elliott Wave Course “Waves Of Wealth”, gave a confirmation on 12^th October. (See below chart)

The subscriber further scaled up the long position in ITC with SL of 230. The average buy price was around 236 and potential expectation was around 255-260 which gave RR around 1:4.

Since the wave iv was quite shallow and at higher degree this was Wave 3, a strong wave v was expected. The stock moved exactly as per the expectations and achieved all TGTs on 14^th October 2021.

Wave Principle can help you to design a solid Trading Plan. Not only you can expect logical profit booking levels but also you can anticipate the likely termination points of corrective patterns. And this can help you to plan a trade in such a way that you can greatly boost your risk-reward. Besides the understating of the market cycles which only Wave Principle can give you, helps in gauging the accuracy of the set up. And these advantages of Wave Principle can help you to trade with size and with confidence.

The online Elliott Wave Course “Waves Of Wealth” is comprehensive practical course. The course access and support are lifetime. Besides you will get access to the Premium Contents at no additional cost. Real time Trade Set Ups are discussed with course subscribers on a regular basis which not only help them to refine what they are learning but also to make money by taking positions on such high probability Trade Set Ups.

The ultimate goal of this practical course is not to make you an expert Elliott Wave Analyst but an expert Elliott Wave Trader.

So go ahead and join the course right away to take your trading and investing to the next level.

Join here: Elliott Wave Course – Waves of Wealth – Dev Advisory – Stock Market Educational Institute

I will see you inside the course.