A rally to exit
Senco Gold CMP - 1104
Elliott- the current dip has five waves which means it is just the first wave A of the three wave correction. The stock is likely to rally to 1400 and complete its B wave from where its C wave down fall should begin. Hence this rally is an opportunity to exit. Since the 1400 zone is some 30% from here it is an opportunity for traders.
RSI - RSI has reached the bull zone at this support . Hence we know the bull trend still has strength. On this rally RSI is likely to stop around the 60-65 zone which is its bear zone.
Elliott- the current dip has five waves which means it is just the first wave A of the three wave correction. The stock is likely to rally to 1400 and complete its B wave from where its C wave down fall should begin. Hence this rally is an opportunity to exit. Since the 1400 zone is some 30% from here it is an opportunity for traders.
RSI - RSI has reached the bull zone at this support . Hence we know the bull trend still has strength. On this rally RSI is likely to stop around the 60-65 zone which is its bear zone.
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