CIPLA Analysis - Monthly View
Current Formation - Elliot Impulse Wave
1) Wave2 took a support @ 0.5 level of wave 1
2) wave 3 took resistance @ 2.618 level of wave 1
3) wave 4 does not overlap on wave 1 .But it took support 0.618 level of wave3(Fib
level alone not met Elliot wave condition)
4) wave 5 extended wave
Current Trend::
Current at Top of parallel channel and Max OI @1300 level of both Jan and Feb series
1) Wave2 took a support @ 0.5 level of wave 1
2) wave 3 took resistance @ 2.618 level of wave 1
3) wave 4 does not overlap on wave 1 .But it took support 0.618 level of wave3(Fib
level alone not met Elliot wave condition)
4) wave 5 extended wave
Current at Top of parallel channel and Max OI @1300 level of both Jan and Feb series
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