A rally to exit
Granules CMP 540
Elliott- These sharp falls are just the first leg A of the three wave correction ABC. The stock should rally from around this zone to 647. In my view exit this counter on this rally. Coz the devastating C leg will start from here. Which should complete around the 380 zone. This place will be an opportunity to buy.
Pattern - this is an inverted V shape fall and is a directional signal.
Volume- that bear candle has huge volume. This means bears are in total control.
Conclusion - the bears will leave it a bit loose. And its the retail that will be caught in this rally .So do not fall for it. Use the rally to exit your longs. Traders that C leg will be a hell of an opportunity.
Elliott- These sharp falls are just the first leg A of the three wave correction ABC. The stock should rally from around this zone to 647. In my view exit this counter on this rally. Coz the devastating C leg will start from here. Which should complete around the 380 zone. This place will be an opportunity to buy.
Pattern - this is an inverted V shape fall and is a directional signal.
Volume- that bear candle has huge volume. This means bears are in total control.
Conclusion - the bears will leave it a bit loose. And its the retail that will be caught in this rally .So do not fall for it. Use the rally to exit your longs. Traders that C leg will be a hell of an opportunity.
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