A sharp correction is on the way

Persistent CMP 6347

Elliott- this is again the C wave of correction that should happen from here. They are always very sharp and deep.

Detrend - is showing a -ve divergence. And is also at the same amplitude as the start of the correction.

Composite- Again is at the same amplitude as the one made at the highs. This is confirming the resistance

RSI - the oscillator below the averages is called failing below the averages.

Conclusion - In my view the stock will correct minimum to 4440 which is a good 30% from CMP. This also means one more leg of correction is due in IT heavy weights like TCS, Infy, Wipro etc