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21 Jan 202104:58 PM

I believed that Vedanta had already completed wave 2 and started wave 3, however, the move up from the December low has only added 4 more waves to the structure which might end up being only an extension to the 1st wave. Upon reconsideration, I have marked the end of wave 1 at the January high of 189.70 and from there down we are in wave 2 that may not be certainly complete. Today we closed below the 20 DMA at 173 and the next support is at the 40 EMA near 156. Once wave 2 completes wave 3 up should follow.

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