Wockhardt CMP 1725
Elliott - the 5th and the last impulse is over and now a three wave correction will start from here. The correction tgts the vicinity of the 4th wave of one lesser degree. The same has been marked with a small box on the right chart. Thats 1100 to 900.
Fibs- The fib ext has confluence at 1500 from where the 4th wave correction started. The 5th wave has halted at the next confluence at 1855.
Conclusion - With the stock at resistance and RSI in the over bought zone and comp below its averages a deep correction is very likely from here.
Elliott - the 5th and the last impulse is over and now a three wave correction will start from here. The correction tgts the vicinity of the 4th wave of one lesser degree. The same has been marked with a small box on the right chart. Thats 1100 to 900.
Fibs- The fib ext has confluence at 1500 from where the 4th wave correction started. The 5th wave has halted at the next confluence at 1855.
Conclusion - With the stock at resistance and RSI in the over bought zone and comp below its averages a deep correction is very likely from here.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.