Nifty closed in the negative territory in the last trading session and with that, it seems to have completed five waves rising structure. A minimum of 38.2% retracement of the same is expected, hence we recommend selling it as the hourly momentum indicator too has provided a sell crossover.
The stock has provided a breakout from the symmetrical triangular pattern with a buy crossover in its daily as well as weekly momentum indicator MACD.
The stock has formed a nice symmetrical triangular pattern on the daily charts in its wave 4. The stock has also provided a clear buy crossover in its daily momentum indicator MACD.
The stock seems to have completed a clear A-B-C correction the daily charts. The momentum indicator is also well in buy mode. The momentum indicator MACD is also well in buy mode, so we recommend buying this stock.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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