A reader asked how to deal with freak price movements, and cited the stock of Ashok Leyland as an example. Apparently, such movements are common in mid-cap stocks.
Well, I decided it is worth the time to look at Ashok Leyland, and here is the Elliott Wave Analysis. As you can see, we need to make an honest effort to fit in all GENUINE market movements (sometimes we get a bad tic in the chart, like some crazy trader updating an incorrect price that gets picked up by the system. Such bad tics can be ignored).