if we check the fractals of wave 3, then we have 2 scenarios.
1st scenario - wave (iii) of [iii] of 3 going on.
2nd scenario - wave [iii] is going on. Here i considered mar - oct 2016 rise as 3 wave.
in either case, voltas got ew targets of 670+ , so every meaningful dip is a buy.
Note: this post is for educational purpose
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price retested the horizontal support for couple of times, now it is moving up.
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after re testing the horizontal support price moved up nicely ,
learning point - 1.support/resistance is not a level or line , its a zone, 2. patience and conviction required for wealth creation in stock market. 3. Patience and conviction is generated after lots and lots of follow up analysis.
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cmp - 618, regular bearish divergence seen at horizontal resistance zone, looks bearish