NSE Electcast has fallen by more than 72%, and the price has consistently broken 52-week lows. This is a cautionary situation for buyers due to a potential panic. Wave projection suggests a long position after the breakout of 85, with the following targets: 98 – 112 – 125+.
The given structure is a (W) – (X) – (Y) formation. The ending point of the wave (Y) can be the starting point of new impulse formation.
Free subscribers: confirmation conditions
- Breakout and hold above 85 (W)
- Reversal from the lowerband of the channel [0.618 of the wave (W)]
- Reversal from the cluster zone (62 – 58)
The price must break above Wave iv and sustain above 85.
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