Super Cycle Wave (3) has potential to push the stock to new high
Super Cycle wave (1) completed around 290 high in Feb 2008 and wave (2) which looks like a corrective double zig-zag ended at 20 in March 2020. If it is over, super cycle wave (3) will push the stock to record new highs may be much above 250+.
Currently, it looks like it is nearing channel resistance which might put some pressure in the short term but that should be used as a good opportunity to accumulate for the long term. Volumes are significantly higher so the stock might get good support and may not fall much. It is a must-have stock in your portfolio and has the potential to turn into a multi-bagger.
CMP 80 TGT 250+ SL 48
Currently, it looks like it is nearing channel resistance which might put some pressure in the short term but that should be used as a good opportunity to accumulate for the long term. Volumes are significantly higher so the stock might get good support and may not fall much. It is a must-have stock in your portfolio and has the potential to turn into a multi-bagger.
CMP 80 TGT 250+ SL 48
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