IMFA for 55% upmove

Sep 10

Indian Metals and Ferro Alloys (IMFA) on daily chart seems to be in final stages of Wave IV of 3 which may culminate around 600 levels or has it made a bottom(?); only the next few sessions can confirm that. Wave V of 3 is likely to see price up move towards 930-940 levels (~55% jump from lows of wave IV) which is fantastic if it attains it (in next 6 months?).

This chart has been put up as an idea to share my views on the stock and in no way a trade recommendation. Please do your own due diligence and analysis.

Oct 16

Note

Wave V of 3 in progress. High of 732 today(17% up since analysis).