Sun Pharma Neo Wave

Complex Correction Taking Place .
First Zigzag.
Next X Wave.
Then Diametric....(Looks Like it finished at g's Low)
Low of e might provide some resistance....
A bounce happened from Last weeks low,so, it might be impulse or just can turn out into symmetrical pattern connecting h & i to ongoing diametric correction.......
Be careful with shorts....( as i feel in worst case it might make one more low if its symmetrical)
Apply buy in Dips Strategy...
Cmp 480

Comentário:

Yesterday After falling till 475 & Bounced back to 489 new High.....Now the stock has pushed itself into major channel line as shown in charts,If it holds that channel line then stock il move upto diametric "f" trendline & it it cuts above it ,then it may move upto upper channel line....
Invalidation il be 432

Comentário:

Low of Wave e (493 ) has proved to be resistance as said earlier......High 490 yesterday & back to 476 now...
That is not big resistance either,it should be taken out after some consolidation...