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pradipandsuvra

The curious case of MacroTech Developers (Lodha) Chart patten

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MACROTECH DEVELOPERS LTD (NSE:LODHA)  
pradipandsuvra  
NSE:LODHA   MACROTECH DEVELOPERS LTD
Trend Analysis Elliott Wave indianstocksanalysis stocktowatchfor interesting
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trendanalysis elliottwaves indianstocksanalysis stocktowatchfor interesting
Very Interesting. Sort of (heterodox) Elliot Wave (sic).

Just plot in in Daily chart. What you see:

  • 4 triangles - in the order of smaller highest medium smaller height (noted in the green flags). Lets call it our Elliot Waves 12345-ABC. (The green flags are motive peaks and reds are corrective trough.
  • After that there is a rounding bottom - shown as blue semi-circle.
  • The SAME PATTERN then again repeats --- 4 triangles with same proportional height, followed by the rounding bottom.
  • If Price Action is correct - then it's a new wave which will replicate again the same pattern!
  • Fib levels are shown.
  • Afte


Buy recommendation with SL of 970 for the potential upside of 1080 / 1120.

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