20th Dec
Stock refused to take support at near 250 which was 50% retracement. Next support is near 61.8% retracement neat 210 and just below that at 202 is 138% of wave A of this retracement. That is the next possible range where this corrective wave 2 ends.
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There has been considerable discussion about CAIRN being an excellent long term pick.
Here is my view.
The corrective wave C does not seem to be over yet and most likely it should end near 250. Though the internal counts of Wave C suggest immediate target near 263. So may be one more small bounce thereafter and then finally to the target area. That would also make a nice divergence pattern on oscillators.
Monthly chart
Stock refused to take support at near 250 which was 50% retracement. Next support is near 61.8% retracement neat 210 and just below that at 202 is 138% of wave A of this retracement. That is the next possible range where this corrective wave 2 ends.
xxxxxxxx
There has been considerable discussion about CAIRN being an excellent long term pick.
Here is my view.
The corrective wave C does not seem to be over yet and most likely it should end near 250. Though the internal counts of Wave C suggest immediate target near 263. So may be one more small bounce thereafter and then finally to the target area. That would also make a nice divergence pattern on oscillators.
Monthly chart
