Praj Industries Ltd:81.25
On completion of the correction, next Resistance will be ₹120
and in long term, targets will meet a ₹296 ₹358 & even ₹460 Fibonacci projection levels.
stop loss on completion wave (2) can be end at 64 or 55.
The 2008 top ₹268 concluded a primary wave 1] with an extension in its inter mediate wave (5), made a drastic fall , correcting the entire wave (5) with a Double Zigzag ending at ₹31. Its further advancement looks like a bullish move following the classic rules, assuming that we are in sub wave (2) correction, and on completion of that, wave (3) will open up.
We are in wave 3], will have a huge gain in long term view.
Short term: abc correction ₹ 55.00
On completion of the correction, next Resistance will be ₹120
and in long term, targets will meet a ₹296 ₹358 & even ₹460 Fibonacci projection levels.
stop loss on completion wave (2) can be end at 64 or 55.
The 2008 top ₹268 concluded a primary wave 1] with an extension in its inter mediate wave (5), made a drastic fall , correcting the entire wave (5) with a Double Zigzag ending at ₹31. Its further advancement looks like a bullish move following the classic rules, assuming that we are in sub wave (2) correction, and on completion of that, wave (3) will open up.
We are in wave 3], will have a huge gain in long term view.
Short term: abc correction ₹ 55.00
