the correction has resumed

282
IOC CMP 137.42

Elliott- The rally is a zig zag and is over. Since it is corrective we call it X. Now a new set of A, B , C correction will happen from here.

Fibs- the rally cannot go past 50% is weakness.

RSI - the oscillation within the bear zone is telling that the trend is still down.

MA- now trading below the longest MA is negative.

Conclusion - this stock is in my negative list. And now the correction has resumed. First tgt is back to the base at 110.

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