NIPPONIND : is correction over on Wave 2 or B?

INDO-NATIONAL LTD (NSE: NIPPONIND) 🚀
Weekly Chart Analysis – Potential Swing Opportunity!

1. Structure & Setup

The stock has completed a major correction in the zone of 50%-78.6% Fibonacci retracement of Wave A (408.80–458.50).
Wave B or 2 seems to be in place, setting up for a potential bullish move.
Previous resistance and correction occurred from the extended retracement zone (113%-127% fib).
2. Key Levels & Targets

First Swing Target: 50% fib retracement of Wave B or 2 at ₹574.90–625.00 🥇
Second Swing Target: 78.6% fib retracement of Wave B or 2 at ₹761.40 🥈
Support: 78.6% fib retracement of Wave A at ₹408.80
3. Risk Management

STOP LOSS: On weekly or daily close below the correction zone (failing Wave B or 2), i.e., below ₹408.80 🚨
4. Observations & Strategy
1️⃣ Chances of a bullish reversal are high from the current zone, supported by fib retracement confluence.
2️⃣ Watch for a breakout above ₹500 for confirmation of momentum.
3️⃣ Risk/Reward is favorable for positional swing traders.

Summary:
A strong setup for a multi-month swing! Monitor price action near support and trail your stop as the move unfolds. 📈

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