A massive wave may be coming in HINDWARE in coming months
The stock was seen rising in an impulsive 'wave I' structure between March-Aug 2023.
Wave II happened between Aug-Nov and wave II managed to retrace 50% of wave I.
In the past 2.5 months, the stock displayed a minor wave i of wave III and a retracement of the same in the form of minor wave ii.
The stock now looks all geared up to move up and cover the remaining legs of Wave III.
Wave III projected target is around INR 900-920, which means a good 80% upside from CMP.
On the downside INR 479 can be used as a "SL".
Wave II happened between Aug-Nov and wave II managed to retrace 50% of wave I.
In the past 2.5 months, the stock displayed a minor wave i of wave III and a retracement of the same in the form of minor wave ii.
The stock now looks all geared up to move up and cover the remaining legs of Wave III.
Wave III projected target is around INR 900-920, which means a good 80% upside from CMP.
On the downside INR 479 can be used as a "SL".