TCI Express
CMP 1440
It is clearly in Stage 4 and it seems some more correction can happen although currently it is at a strong support level – 40 MEMA and at lower Bollinger Band on Monthly Chart .
Either it should stop here or it should go near 1260-80 range .
As per EW it is in wave 2 ( wave 1 calculated from Covid lows), at that level , it would be near 61.8% fib level retracement as well as at the wave 4 level of whole rise. Strong stocks tend to stop there.
But whether it can start a big uptred as of now ? Well, that seems difficult –if it does not fall further it might stabilize here in a narrow range for some more time .
Monthly Chart
Disclaimer : This post is just an effort for learning few methods of price-patterns. Views are personal and are purely based on our limited knowledge of charts. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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