NRB Bearings Limited, engages in the manufacture, marketing, and sale of ball and roller bearings for original equipment manufacturers(OEM's) in India and internationally.
The stock is displaying clean(without overlaps) Elliot waves since March 2023 bottom. Wave v of the current structure is now kicking in with a projected price of around 330-340 zone.
In the even bigger picture this anticipated wave v would become the wave v of a bigger wave 3 bringing the wave 3 to a pause.
From current levels however the stock offers good risk/reward for a short term trade with possibly 25% gains to be made.
CMP 268
SL 253
Target 330-340
The stock is displaying clean(without overlaps) Elliot waves since March 2023 bottom. Wave v of the current structure is now kicking in with a projected price of around 330-340 zone.
In the even bigger picture this anticipated wave v would become the wave v of a bigger wave 3 bringing the wave 3 to a pause.
From current levels however the stock offers good risk/reward for a short term trade with possibly 25% gains to be made.
CMP 268
SL 253
Target 330-340