1)scenario
Current wave count:
cycle-3
primary-1
intermediate-3
minor-1
as per this count current bounce being an intermediate wave 3 bounce,price should go till 420.(standard 1.618% extention of wave 1 from wave 2 low)
longs can be initiated @ cmp of 338 with a stop-loss of 314 on closing basis and a tgt of 420.
2)Alternate scenario
Intermediate 1 is wave...
In today's trading session SPARC has completed WXYXZ triple correction when it crossed 233 levels.
After such side ways correction,subsequent move is supposed to be an 5 wave impulse which can take out previous high from where the correction has started.
Hence one can go long @ cmp of 235 with a stop of 228 on closing daily basis on the down side and target of...
After an impulsive rise followed by a long term correction stock has give a breakout of the long term downtrend line & is trading in an impulse channel. The current wave can be a 3rd wave. As of now one should buy the stock with SL of 149 for tgt of 329/380 zone.
