Amazing Reward against the Risk for Crompton Greaves

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CROMPTON GREAVES C (NSE:CROMPTON)

NSE:CROMPTON CROMPTON GREAVES C

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Price has completed an Upward 5 Wave Sequence structure (Wave 1) and a 3 Wave downward Correction structure (Wave 2), now we have the Wave 3 coming up which is the Wave to surf!!!

We see that Wave 2 has retraced Wave 1 by 61.180% and that is the rule for retracement of Wave 2 as per the Elliott Wave Theory.

Wave 3 as per Fibonacci Extension levels achieves 161.80% of Wave 1.

After reacting to the 6 Months Demand in the left side Price has closed above the EMA confirming Buying Pressure and we also have a Demand formed in Monthly which is our Trade Demand for the Target of Rs. 878.45 that's a Reward of 21.44 against the Risk of Rs. 26.80.