The curious case of MacroTech Developers (Lodha) Chart pattenVery Interesting. Sort of (heterodox) Elliot Wave (sic).
Just plot in in Daily chart. What you see:
4 triangles - in the order of smaller highest medium smaller height (noted in the green flags). Lets call it our Elliot Waves 12345-ABC. (The green flags are motive peaks and reds are corrective trough.
After that there is a rounding bottom - shown as blue semi-circle.
The SAME PATTERN then again repeats --- 4 triangles with same proportional height, followed by the rounding bottom.
If Price Action is correct - then it's a new wave which will replicate again the same pattern!
Fib levels are shown.
Afte
Buy recommendation with SL of 970 for the potential upside of 1080 / 1120.
