ITC
CMP -378
Well this one we can reply very quickly as it is part of our long term portfolio.
As per EW , we feel that it is in 5th wave and can go beyond 500.
5th waves happen to be tricky , many a times they get turncated ie they don’t achive the targets or sometime they go beyond the targets.
In very short term, it seems bit extended -can cool off a bit as short t-erm investors/traders can go for profit-booking.
Monthly Chart
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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