Persistent CMP 6347
Elliott- this is again the C wave of correction that should happen from here. They are always very sharp and deep.
Detrend - is showing a -ve divergence. And is also at the same amplitude as the start of the correction.
Composite- Again is at the same amplitude as the one made at the highs. This is confirming the resistance
RSI - the oscillator below the averages is called failing below the averages.
Conclusion - In my view the stock will correct minimum to 4440 which is a good 30% from CMP. This also means one more leg of correction is due in IT heavy weights like TCS, Infy, Wipro etc
Elliott- this is again the C wave of correction that should happen from here. They are always very sharp and deep.
Detrend - is showing a -ve divergence. And is also at the same amplitude as the start of the correction.
Composite- Again is at the same amplitude as the one made at the highs. This is confirming the resistance
RSI - the oscillator below the averages is called failing below the averages.
Conclusion - In my view the stock will correct minimum to 4440 which is a good 30% from CMP. This also means one more leg of correction is due in IT heavy weights like TCS, Infy, Wipro etc
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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.