According to the chart, the price has formed an impulsive cycle at 520, which it accomplished at 762. As of now, JSW is trading in the base channel of the impulsive structure.
Traders can alternate this count with A, B, and C waves. The structure of wave 5 is an ending diagonal, indicating the trend is coming to an end.
If the price breaks down the low of wave 4 of the ending diagonal at 727.8, traders can trade for the following targets: . Hence, It will confirm a downtrend.
In addition, Support from the low of the 4th wave will lead new high or consolidation in the range of 762.9 – 727.8.
I will update further information soon.
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