Should come down to 300 levels in wave 4. Then it should go up to 550 in wave 5. Currently stock looks bit expensive at P/E above 50.
NELCO - After such long runup in Elliott wave , should crack 50% and must correct down to 150/160 levels in wave . Long term count is very good. Can be a good compounder for next 10 yrs or so, but not multibagger.
Complex correction
Nifty Midcap 100 might go down to 16800 in wave (4)
Look for reversal around 135 or in 120's.
Dilip Buildcon - Completed 5 waves up, now correcting in wave A. Took support at 200DMA. If it breaks 840, there is no near support until 600. Breaking 840 will lead to a steep fall.
Maithan Alloys completed fives up. Peaked out at 999. Now correcting in ABC waves. It might go down to 500 to 510.
Ran up too much in wave (3) after 4 to 5 yrs of accumulation in wave (2). Correction has started in the form of wave (4) and may go on for another year or two before it runs up again in wave (5). Using the channeling method of Elliott Wave, target for wave (4) is around 75.
Seems Relaxo is completing five waves up. Wave 5 retraced from 0.618 of distance traveled from wave 1 to wave 3.
Currently correcting in wave 2. If AB=CD has to satisfy, then the correction will end somewhere around 60.
Sanwaria Consumer will correct down to 13/14 levels in Elliott Wave C. Then it will go up in the next degree of progressive wave. 13 to 15 should be good level to enter.
Tata Consultancy Services seems to be riding wave 5 of wave (5). Will peak at around 3650 and then there will be a huge correction.