*Read This Report carefully to get an accurate entry level for buyers.*
Devyani International has created an all-time high of 198.90. Price faced supply pressure that bulls couldn't hold their power, and it has started correcting for upcoming impulsive structure. After counting the wave, we can name this correction 4th corrective wave, and the all-time high...
Alembic is having a double zigzag( W-X-Y) correction of wave ((4)).
Price is stuck on the ending diagonal of wave Y.
According to the Elliott wave principle, if the price breaks up the ending diagonal, the price is supposed to reach the targets of 114-123-139 and more .
However, the price must confirm the trend by breaking the wave (X).
In case if price...
Most probably wave B completes in this given range and after completion of wave B we can see another downfall of 262 to 322 points in Nifty. But for that trade as of now I have no exact stop loss. In market hours if you get clues for wave B completion then plan a trade with decent risk reward ratio.
"HAVE A NICE AND SAFE TRADING"
