INDIANHOTEL @ 661 WAVE UPDATE
From COVIDLOW stock is moving up by forming multiple 1-2-1-2-1-2 pattern and extending the larger wave-3.
At recent high which is 725 levels around minor wave 3rd up move is completed or we might get one more upside move towards 725-750 levels to complete this minor wave 3rd up move and then stock starts it's correction.
Now here two levels are very important levels to watch.
1st 640 spot levels on minimum 1 to 2 days closing basis.
2nd 725-750 spot levels as BIG upside resistance.
If stock breaks 640 on closing basis then we have to assume that minor wave 3rd completed at 725 and now stock is in middle of minor wave 4th pullback correction which may take stock towards 475 levels in next couple of weeks or months.
Whereas if stock mange to hold 640 and moves towards 725-750 than anywhere from this rest zone next leg of correction starts.
In short in both the cases stock has either started journey towards 475 or it may start after couple of weeks. Cautious Stance
From COVIDLOW stock is moving up by forming multiple 1-2-1-2-1-2 pattern and extending the larger wave-3.
At recent high which is 725 levels around minor wave 3rd up move is completed or we might get one more upside move towards 725-750 levels to complete this minor wave 3rd up move and then stock starts it's correction.
Now here two levels are very important levels to watch.
1st 640 spot levels on minimum 1 to 2 days closing basis.
2nd 725-750 spot levels as BIG upside resistance.
If stock breaks 640 on closing basis then we have to assume that minor wave 3rd completed at 725 and now stock is in middle of minor wave 4th pullback correction which may take stock towards 475 levels in next couple of weeks or months.
Whereas if stock mange to hold 640 and moves towards 725-750 than anywhere from this rest zone next leg of correction starts.
In short in both the cases stock has either started journey towards 475 or it may start after couple of weeks. Cautious Stance
