StageInvesting +Elliot Waves

GPIL

CMP:925

It seems to have completed some wave in its long journey and currently going through a correction.

Difficult to say whether the completed wave is minor wave I or it is larger wave 3. ( Our bias is towards minor wave I)

Currently it is at a critical level - bottom end of parralel channel support. If it breaks the channel , then we might see a deeper correction.

Daily Chart

Disclaimer : Views are personal. No buy/sell recommendations. The projection is based on our technical -probability study methods and chances of success/failure depend upon various factors.

4 Likes