The stock shows a bullish trend reversal. Wave Analysis and Fibonacci Patterns show that the stock has retraced/corrected about 70% from the last high after which it has clearly shown an Correction Impulse Wave. Suggest a buy at 604.00 - 610.00 levels with a target price of 870 (Medium-Long Term) with a stop loss 560.00
Elliot Wave Theory and the trend indicators show a bullish sentiment. moreover the stock has already corrected about 65% of the original bull run and hence could go long upto 870. Suggest Long at buy price 604 with a stop loss of the current low, breakout of which will lead to a strong bearish pressure.
