Kirloskar Electric : Great time coming ??Hello friends. Lets analyze the Wave structure of Kirloskar Electric in weekly time frame. From the extreme low the price changed its trend through a beautiful wave structure called leading diagonal, where waves may overlap but maintaining the basic Dow Theoretic structure of HH and HL. Then the journey of W-3 and W-5 ended at precise Fib Zone and the price is undergoing correction for an ABC correction for the primary W-2 correction. The best buying Zone is 60-65 as per the character of the corrective ABC wave. The charcter showing us that it may not hold the 61.8% retracement standing at 102.
Now if we analyze the ongoing correction in daily time frame we can see the correction is in its final leg which should terminate near 83-90.
