This Elliott Wave analysis of Coal India stock is an example of how I approach the market. I had prepared this on 10 October 2017. The techniques used are exactly what I have described in detail in my book “Five Waves to Financial Freedom“.
Wishing all Indian readers a very happy Diwali.
in your book its mentioned that Wave X is formed between the two corrections and not before the correction happens like it intermediate between two corrections. here you label X after impulse and then counted abc why ?
Mihir, You are correct in your understanding that an X wave is what separates two legs of a correction. As for your confusion with the labels here, you should know that all wave counts are tentative! The B wave is on its own a complex correction with two sets of (pink colored) abc’s inside it and separated by an X. The X you see at the far right with a question mark considers whether we will get another ABC in proportion to the larger ABC that preceded it.