The ongoing downtrend is Wave2 of the fresh impulse started at 612. On both price wise and time corrections seem to be concluded, the stock may take a fresh start anytime soon. Expect Wave3 target of 980-1000 in the coming 3-6 months. The targets would be revised as the internal waves unfold. Maintain a stoploss below the recent low and buy.
Comment:
The last leg C of Wave 2 has concluded at 642.50 and a fresh impulse (Wave3) has started. The ongoing rally is the Internal Wave 1 of Wave 3