Timeframe: Monthly
On the NSE monthly chart, JAYSREETEA has developed a complex corrective structure labeled (W) – (X) – (Y), extending over a period of 259 weeks. Despite this length, the overall pattern has yet to fully play out. The final wave, wave C of wave (Y), has been completed, and the stock now faces a critical resistance zone around the 143 level, which coincides with wave B of wave (X) and wave A of wave (C).
If JAYSREETEA manages to break and sustain above this 143 resistance level, it could signal a potential bullish breakout. Traders may then expect the stock to rally towards key target levels of 200 – 271 – 337. The 337 mark represents the 161.8% Fibonacci extension of wave (W), indicating a maximum target based on this wave count. The initial key level to watch, however, would be 217.13, which reflects a 100% Fibonacci extension of wave (W), serving as the minimum anticipated price move.
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