Is the stock Expanding ?

BSE CMP 2231

Expansion and contraction

Elliott - here we only take the 50% mark of each swing. The first swing is iii of 3. All the 50% mark now has to be above the 50% mark of this wave for the stock to be expanding. If it is below this mark then the swings are contracting. Now see both the 50% mark in this counter is above the one marked in bold. But what is striking is that the distance has increased significantly in the biggest swing. This is telling us that the stock is expanding and this dip is an opportunity.

Geometry - the stock is now at an imp resistance zone of 2250. the green lines have been found from the current mkt geometry. So all we need is a weekly close above 2250.