Manappuram on corrective waves

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...aa43e0b670e8f7af.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.