Super Cycle Wave (3) has potential to push the stock to new high
Super Cycle wave (1) completed around 290 high in Feb 2008 and wave (2) which looks like a corrective double zig-zag ended at 20 in March 2020. If it is over, super cycle wave (3) will push the stock to record new highs may be much above 250+.
Currently, it looks like it is nearing channel resistance which might put some pressure in the short term but that should be used as a good opportunity to accumulate for the long term. Volumes are significantly higher so the stock might get good support and may not fall much. It is a must-have stock in your portfolio and has the potential to turn into a multi-bagger.
CMP 80 TGT 250+ SL 48
Currently, it looks like it is nearing channel resistance which might put some pressure in the short term but that should be used as a good opportunity to accumulate for the long term. Volumes are significantly higher so the stock might get good support and may not fall much. It is a must-have stock in your portfolio and has the potential to turn into a multi-bagger.
CMP 80 TGT 250+ SL 48
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.