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JTEKTINDIA

Wave 3 in JTEKTINDIA can kickstart a 60% rally in the stock!The stock had witnessed a five wave impulsive rise in March 2023 which went on till Aug 2023. The impulse drove the price of the stock up by 76% from March bottom. This phase was then followed by a three month long correction(zig-zag or ABC) leading to a 50% retracement of the gains made during the impulsive wave. Now that the corrective phase is over, the stock has slowly started making minor waves to the upside to unfold a major wave 3 that can be projected going towards the INR 210-220 zone(55-60% from CMP). The stock closed at a +4.26% gain on Tuesday's session alongside massive uptick in volumes - signs of fresh buying. CMP - 138 SL - 127 TARGET - 220
NSE:JTEKTINDIALong
by neeraj_2_sharma