PIBTL (17.08)
03-08-2026
PIBTL has followed Elliott wave structure of 5th-wave failure. Its wave-3 completed at ideal level given in text books around 22.96 (actual completion point was 23.04). Under Elliott wave rules, its wave-5 sub-divided into Terminal Impulse Pattern which is the almost assurance of 5th-wave failure. Now wave-5 stands completed under 'Rule of Equality' around 19.35. It may now fall again to around 12.90 under retracement rules. Exit from PIBTL is suggested pl. Immediate resistance is 17.10. Immediate support is 16.70.
On bullish side, if it re-gains 19 (seems difficult) then it may hit 22.90 max.

Reasons:-
1. Overall structure 5th-wave failure
2. Wave-3 extended with 0.382 ratio
3. Wave-5 Terminal Impulse Pattern
4. Rule of Equality invoked for wave-5
5. Retracement rules for 5th-wave failure

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