Shriram Fin CMP 670
Elliott- The ABC correction of a bullish zig zag finished at 500. The main question post a corrective pattern is ,will it produce another corrective pattern or an impulse wave. Here we see it has produced an impulse wave. The dip post this will be wave 2, which should tentatively end around the 560/580 zone.
Fibs- the dip to 50% is strength.
Trendline - A weekly close below the trendline will confirm that wave 1 of the impulse wave is indeed over.
Conclusion - wait for the dip to buy this counter. Coz post the correction wave 3 which is the strongest and lifts like a rocket will begin.
Elliott- The ABC correction of a bullish zig zag finished at 500. The main question post a corrective pattern is ,will it produce another corrective pattern or an impulse wave. Here we see it has produced an impulse wave. The dip post this will be wave 2, which should tentatively end around the 560/580 zone.
Fibs- the dip to 50% is strength.
Trendline - A weekly close below the trendline will confirm that wave 1 of the impulse wave is indeed over.
Conclusion - wait for the dip to buy this counter. Coz post the correction wave 3 which is the strongest and lifts like a rocket will begin.
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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.