I am posting monthly chart of Vardhman Textiles to understand it's structure. It seems that the price is in prime wave [3].
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On daily chart, price is in minor wave 3 of intermediate wave (3) of prime wave [3]. This is only when, when the minor wave 2 has completed. The wave 2 is forming triple three pattern. If this correction pattern does not extend further then only it is minor wave 3. On seeing the chart it appear that there is resistance from trend line [b][b]. If the price take resistance here and returns to [c][c] trend line then the price will entangle in the correction pattern. If suppose it breaks above trend line [b][b] then the minimum target is 548.37.
-16-01-2015.jpg)
Disclaimer: This and all the ideas I present are for educational purpose only.
On daily chart, price is in minor wave 3 of intermediate wave (3) of prime wave [3]. This is only when, when the minor wave 2 has completed. The wave 2 is forming triple three pattern. If this correction pattern does not extend further then only it is minor wave 3. On seeing the chart it appear that there is resistance from trend line [b][b]. If the price take resistance here and returns to [c][c] trend line then the price will entangle in the correction pattern. If suppose it breaks above trend line [b][b] then the minimum target is 548.37.
Disclaimer: This and all the ideas I present are for educational purpose only.
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