The parallel trend channels typically mark the upper and lower boundaries of impulse waves, often with dramatic precision. Wave 1 and wave 3 are in sync with Elliott's rule which means formation of wave 5 is clear here. Wave 5 with uptrend and clear increase in its volume shows possible penetration into uptrend.
Possible up move will see around 78,in failure case...
FirstSource solution given breakout zone 42 levels with great volumes one can start accumulating stock for target 50+ at above 43 buying price. this target is invalid if it touches stop loss 37/-
First source solution (FSL) looking for breakout from parallel channel. Third Elliot Wave has been started which can be confirmed by volume blast.
Formed cup and handle pattern which is near breakout point.
All dips towards 42.3 - 40 are long opportunity Stop Loss 34.9 on daily closing basis. Check chart for more details.
Third wave target 58
Fourth Wave target...
FSL has given breakout with Good Volumes. Would go long on market open 2morrow SL 46 Close based. Target Open since stock is on Verge of Breakout on Weekly.
