AMARARAJA BATTERY IS IN 2ND WAVE OF CORRECTION.
It has done the desired 2nd wave correction which is 61.8%, however, 2nd wave can retrace upto start of wave 1.
But it looks that the market is respecting the level of 61.8% and probably it will further become bullish.
It broken out the trendline and has come to retest that long term trendline and again respected it, move up from the trendline.
We may think of taking position in trenches as the stock is in 2nd wave of correction.
Thats all.
Do your own analysis before entering the stock.
Any losses made will be sole responsibility of the viewer/traders.
Regards
Happy new year.
It has done the desired 2nd wave correction which is 61.8%, however, 2nd wave can retrace upto start of wave 1.
But it looks that the market is respecting the level of 61.8% and probably it will further become bullish.
It broken out the trendline and has come to retest that long term trendline and again respected it, move up from the trendline.
We may think of taking position in trenches as the stock is in 2nd wave of correction.
Thats all.
Do your own analysis before entering the stock.
Any losses made will be sole responsibility of the viewer/traders.
Regards
Happy new year.
Comment:
please view updated chart in evening...other possibility.