DLF (By EOD Dec 3)

Observations:

WR2: 165
WR1: 156.6
WP: 146.5
WS1: 138
WS2: 128

Bearish:

• As per TableW (below), 156.8 is a possible end of 3rd wave. In that case, we can expect correction upto 144.2 (as given in table W)
• Weekly channel's resistance line is at: 164 (approx). as per Table W, 164 can also be an end of wave3. Correction upto 144.2 (as given in table W) can be expected.
• Looks like Florescent color channel top is touched at [3] (154.90). And what we are seeing is a correction, and moving towards bottom line of the Florescent channel. 
• See the attached image and compare with figure A-5 of page 225

Bullish:

• As can be seen in 60min chart, 1st wave (109 to 140) was an extension. So, 3rd and 5th wave can be expected to be equal. [3]rd wave (136.50 to 154.90). Length of this 3rd wave was 18.4 and it took 6 candles in hour chart. If equality logic is applied, [5] wave which just now started at [I] should end at 171.9 (=153.5+18.4).
• As per Table1, after [4], 5th wave will start and will end at: 166 (261.8% retracement)(Weekly chart channel resistance is around 164 and WR2=165)

Caution for bull:

• In the mean time, as can be seen in 60 min chart, 1st wave (109 to 140) was an extension. So, after [5]th wave, correction will end at end of [2]nd wave. (ie, at: 136.50). (REF: page 69)

Other charts:

Monthly:

Weekly:

Day:

Conservative Approach:
We are very close to breakout area of the triangle. Wait for breakout to happen. We know the target in either side.  After breakout, look for the wave count. (most often we will have abc. We will catch c.)