Good effort .
But long way to go !
Biggest Mistake – You are using monthly charts – for stage analysis one has to use weekly charts.
Need to be very clear whether stock has just entered in Stage 4 or it is in Stage 4 for many weeks/months (Tata Elexsi)- that might decide the extent of balance correction.
Here are few suggestions:
a)In place of 30 WEMA , start using 40 WEMA
b) Also add 9 WEMA – as an additional moving average – it gives sense of recent short-term direction
c) Also do see whether these EMAs are flat, upward/downward slanting – that can indicate whether there is some change of direction
d) Also start drawing trading ranges by drawing trend-lines for nearby left-side resistance- that would help you to decide – S-3 and S-1
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