It was stated that the stock was forming Double Top Pattern. It means that this level will be decisive. It was also said that it is a high momentum stock. One must be very careful going short in such stocks. Today price has broken out of the Double top pattern. Price will head towards 960. It is buy on decline stock.
From Jan 2016 till Aug 2016, the price action is in a correction phase. Now it has formed a Bullish AB=CD Pattern which also represents a zig zag pattern as per the Elliott Waves Principles. This indicates a short term bullish trend reversal with targets as below Target 1 (0.236) - 432 Target 2 (0.382) - 461 Target 3 (0.618) - 610 Stoploss: 380