1 Feb 2021 ● 07:24 AM
Dr. Reddy has completed a 38.2% in wave 4 retracement v/s 61.8% in wave 2. Wave 5 up should start from this level which is 4390. Note that Dr. Reddy bottomed much before the Pharma index itself so its long term wave count is slightly different. The 3rd wave truncated where wave V of 3 is a double top. What we do not know is how long we remain in wave 4, in case we form something like a flat or triangle pattern. But 38.2% should be the lower end of the range.