Alembic is having a double zigzag (W-X-Y) correction of wave ((4)).
Price is stuck on the ending diagonal of wave Y.
According to the Elliott wave principle, if the price breaks up the ending diagonal, the price is supposed to reach the targets of 114-123-139 and more.
However, the price must confirm the trend by breaking the wave (X).
In case, if price breaks the low of wave Y, it can fall up to 79.
At this level, wave W has traveled 100% of wave Y. After that, it will initiate an uptrend for the above targets.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Health sectors will get a boost for the omicron. Union budget will also affect this.
Good chart.
Share more please
Tnx
Wah. jordar chart chhe
Please analyze Biocon.