Manappuram done with 5 wave up, now it's in corrective waves.
This is the chart which i posted in another blog when the price was above 100.
forum.valuepickr.com/uploads/default/original/3X/0/7/07c04bd80be09171b11436a7aa43e0b670e8f7af.png
Expecting to find the bottom somewhere in 70s.
A head and shoulder patter in wave 5 will doubly ensure, the correction is on cards.
Considering the 127.75 as the top. This is how it can retrace:
Level 1: 38.2% from top : 78.9
Level 2: It can find support in the wave 4's level
Level 3: 61.8% from top : 48.8 and the levels will go on in fib series.
This is the chart which i posted in another blog when the price was above 100.
forum.valuepickr.com/uploads/default/original/3X/0/7/07c04bd80be09171b11436a7aa43e0b670e8f7af.png
Expecting to find the bottom somewhere in 70s.
A head and shoulder patter in wave 5 will doubly ensure, the correction is on cards.
Considering the 127.75 as the top. This is how it can retrace:
Level 1: 38.2% from top : 78.9
Level 2: It can find support in the wave 4's level
Level 3: 61.8% from top : 48.8 and the levels will go on in fib series.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.