I am posting Elliott Wave Analysis of monthly chart of 'Tata Sponge Iron Ltd.' to understand it's structure. The price has completed primary wave [3], now wave [4] is unfolding.
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On daily chart, the price is in minor [v] of prime wave [4]. It seems that there is still weakness in the stock so it may go as blow as 438.04 to complete wave [4].
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Disclaimer: This and all the ideas I present are for educational purpose only.
On daily chart, the price is in minor [v] of prime wave [4]. It seems that there is still weakness in the stock so it may go as blow as 438.04 to complete wave [4].
Disclaimer: This and all the ideas I present are for educational purpose only.
