Correction likely in Pharam sector
Nifty Pharma CMP 22987
The current zone is a strong resistance. Fib resistance & trendline resistance at the same zone meaning a correction is on the horizon.
Elliott- It has also completed the v of the 3rd wave. Hence a correction is a high probability. Corrections have a likely tgt. Which are the 4th wave of one lesser degree. The same has been marked on the charts as a box. Thus a minimum correction of 15% from here is the top of the box. This also means that many stocks could correct a lot more. Second this correction will waste ur time as well.
The current zone is a strong resistance. Fib resistance & trendline resistance at the same zone meaning a correction is on the horizon.
Elliott- It has also completed the v of the 3rd wave. Hence a correction is a high probability. Corrections have a likely tgt. Which are the 4th wave of one lesser degree. The same has been marked on the charts as a box. Thus a minimum correction of 15% from here is the top of the box. This also means that many stocks could correct a lot more. Second this correction will waste ur time as well.
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