JP GROUP seems to be going for a revival…JP Associates already appears in a Leading diagonal, however, posting below the chart of one of it’s group co. JP Power, which seems to have been done with the correction of 2nd as well…
This is not valid Elliott Wave count. Wave 4 can’t enter the territory of Wave 1.
Haha! Dear PE_Ratio!, It can in the case of Diagonals, which seems to be the case here (Leading Diagonal).
Yeah, you are right. It’s leading diagonal formed in wave (1). Sorry I didn’t consider it as a diagonal since to me it looked like a channel at first with no convergence.
Anybody willing to call a bottom on lupin.
What trends do you see for Lupin and Tata Motors, both stocks have been beaten to death due to various reasons and looks like a bargain to me from long term (5+ years) perspective. Does technical chart suggest another decline for Telco till 280 and for Lupin till 650 ??