TradingSutra

JINDAL STEEL : 4th wave correction

Short
NSE:JINDALSTEL   JINDAL STEEL & PWR
After forming a high of 501 stock is falling in a corrective manner. This correction should reach upto 50% of the previous rise i.e. 50% of the distance travelled between wave 2 and wave 3 . The correction can be extended to the previous 4th of the lesser degree i.e. the region of 300 zone .

Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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