From the highs of 1375 stock is declining making lower lows lower highs which suggests that stock is undergoing into a short term corrective downtrend. From ElliottWave perspective stock is forming a double three correction (WXY) of which wave-X is already concluded at 1093 and right now stock is unfolding its wave-Y which shall bring the prices towards 700-650 zone in the coming months.
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
www.tradingsutra.com
www.waveutra.com
INSTAGRAM-
www.instagram.com/mansh_25
TWITTER-
twitter.com/mansh_25
YOUTUBE -
@TRADINGSUTRA @WAVESUTRA
Analyst & Co-Founder
www.tradingsutra.com
www.waveutra.com
INSTAGRAM-
www.instagram.com/mansh_25
TWITTER-
twitter.com/mansh_25
YOUTUBE -
@TRADINGSUTRA @WAVESUTRA