23 Sep 2019 ● 12:08 PM
Not a favourite as it became speculative and was once part of the Ketan Parekh group of stocks. But has still maintained its long term trend well. Formed 4th wave triangle in 2016-2018. It is now in wave 5. Wave II of 5 gave up most of the gains in wave I of 5 but did not make a lower low. So the wave count is in tact for wave III of 5 up to start. Wave 5 if it maintains the same set up would go to the top end of the channel and 5=1 is above 6000.
In the short term wave 1 may have completed. Wave 2 is either over or will continue down to 61.8% near 577. Wave 2 is a 3 wave decline marked a-b-c where c=a can be seen, unless we hold the 20/40 day averages near 605 and continue higher anyway. This needs watching.