I think, RPOWER has been doing a large WXYXZ since ATH. I could be very well wrong though. Its just my opinion. Found a nice complex corrective structure throughout the movement. Ofc, you can also find an impulsive one , downwards which would then mean mayhem! But i'm not too confident with that.
Also, if you look at the big descending wedge, you can see that it already broke out. Although the breakout doesn't look that strong enough to carry the momentum too far but it'll be crucial to watch if it gives a successful throwback to this wedge. That small wedge inside the bigger one makes it a little bullish. If the the throwback test to the wedge resistance turned support fails, that would indicate the posssibility of a potential move towards INR 20, long term.
I'm expecting a sideways breakout to this wedge giving a smaller B to the larger Z of WXYXZ, and down for a last leg down to complete the large Z. My potential target for this B is around INR 34-35 level. If this levels breaks with a strong volume then it can also skip this last C before moving up to next potential resistance level and that would be around INR 46-48 level, IMO. That would be very bullish.
All of this is just possibilities though and anything is possible. Trade smartly and REMEMBER, this is not a financial advice.
Also, if you look at the big descending wedge, you can see that it already broke out. Although the breakout doesn't look that strong enough to carry the momentum too far but it'll be crucial to watch if it gives a successful throwback to this wedge. That small wedge inside the bigger one makes it a little bullish. If the the throwback test to the wedge resistance turned support fails, that would indicate the posssibility of a potential move towards INR 20, long term.
I'm expecting a sideways breakout to this wedge giving a smaller B to the larger Z of WXYXZ, and down for a last leg down to complete the large Z. My potential target for this B is around INR 34-35 level. If this levels breaks with a strong volume then it can also skip this last C before moving up to next potential resistance level and that would be around INR 46-48 level, IMO. That would be very bullish.
All of this is just possibilities though and anything is possible. Trade smartly and REMEMBER, this is not a financial advice.