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if a stock fails to break it swing high in an uptrend or swing low in the downtrend then there are higher probabilities that it will reverse.
Elliott always said if one can draw a base channel that is the key to further movement in a stock . When price breaches above the upper boundary of the base channel then we know wave 3 has started . Regards
BULLISH on infibeam buy cmp 71 Stoploss below trend line closing basis Target 98,120,140