[Bullish] Long term wave 5 in progress

26 Ağu 2024

NIITLTD caught my attention last week due to multiple bulk deals and then today the stock skyrocketed to UC with 20% move.

We seem to be in last wave (5th) of current major cycle that started in 2013. Right now, we seem to be in minor wave 3rd of larger 5th. Ideal entry point would be >=155 though the stock may not give that opportunity if it's gaps up tomorrow and keeps moving up.

As per wave equality (1=5), target for wave 5 should be around 500. Note that this is 6M chart.