Wave 3 Down Start

In a downtrend, wave 3 is usually the longest and sharpest decline of an Elliott impulse. This screen lists stocks on the Bombay Stock Exchange where wave 1 has fallen from at least a 64-bar high, wave 2 has rebounded without rising above the start of wave 1, the wave 2 high was set within the last 7 bars, and the price has turned down from it while wave 3 has not formed a low yet. Closing prices are used, and swing points are confirmed by 7 bars on each side. The count is invalid if the price rises above the start of wave 1, which short sellers often use as the stop level; a common wave 3 target is 1.618 times the length of wave 1, measured down from the wave 2 high. Because these signals are rare, the list includes all stocks on the Bombay Stock Exchange, with no price or liquidity filter.