ANANDRATHI @ 3440 UPDATE
As per ELLIOTT WAVE analysis stock showing that it has completed 5 waves up which means at recent all time high we got new wave -1. And now stock has started new wave 2 correction. And stock can fall downside towards minimum 2590 and max 1927 levels in months to come.
As per normal technical analysis bearish M pattern is visible now on charts. This bearish M pattern gets active if stock start giving close below 3390 spot levels.
Right now seeing the RSI and formation of the stock I don't have any evidence on charts that this stock can give more extension up move. More extension up move evidence comes only above 4050 spot levels. As long as stock is below 4050 spot levels we have to assume that stock has now entered in a corrective phase of wave-2.
AVOID THIS STOCK FOR TIME BEING AND THOSE WHO HAVE THE STOCK IN FOLIO KEEP CLOSE EYE ON 3390 SPOT LEVELS SUPPORT ON CONTINUES CLOSING BASIS.
As per ELLIOTT WAVE analysis stock showing that it has completed 5 waves up which means at recent all time high we got new wave -1. And now stock has started new wave 2 correction. And stock can fall downside towards minimum 2590 and max 1927 levels in months to come.
As per normal technical analysis bearish M pattern is visible now on charts. This bearish M pattern gets active if stock start giving close below 3390 spot levels.
Right now seeing the RSI and formation of the stock I don't have any evidence on charts that this stock can give more extension up move. More extension up move evidence comes only above 4050 spot levels. As long as stock is below 4050 spot levels we have to assume that stock has now entered in a corrective phase of wave-2.
AVOID THIS STOCK FOR TIME BEING AND THOSE WHO HAVE THE STOCK IN FOLIO KEEP CLOSE EYE ON 3390 SPOT LEVELS SUPPORT ON CONTINUES CLOSING BASIS.
