LALPATHLAB - End of 4th wave correction?
LALPATHLAB - CMP 2957
Price had a one way rally in it's primary 3rd wave from 1945 to 3650
And it is falling at the same speed.
Price convincingly broke the consolidation at the 30% fib around 3000 levels and trading below the same.
50% retracement is at 2800 and AVWAP from the lows is at 2840
2750-2850 is the breakout retest zone.
Between the next 100-200 points, there could be a good buying opportunity for positional investors (Not advisable for FNO)
Price SHOULD NOT BREAK 2767 at any cost as the set up would become invalid (4th wave cant get in to the territory of wave 1)
Price had a one way rally in it's primary 3rd wave from 1945 to 3650
And it is falling at the same speed.
Price convincingly broke the consolidation at the 30% fib around 3000 levels and trading below the same.
50% retracement is at 2800 and AVWAP from the lows is at 2840
2750-2850 is the breakout retest zone.
Between the next 100-200 points, there could be a good buying opportunity for positional investors (Not advisable for FNO)
Price SHOULD NOT BREAK 2767 at any cost as the set up would become invalid (4th wave cant get in to the territory of wave 1)
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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