LTI MINDTREE - 5th wave rally underway?

LTI MINDTREE has established distinctly defined Elliott waves, which clearly illustrate the characteristics of the waves, adhere to the principle of alternation, and align with Fibonacci levels. Upon closer examination, the following observations can be made:

A. Wave 1 concluded at approximately the 2000 level.
B. Wave 2 exhibited an irregular flat correction, retracing to the 61.8% level.
C. Wave 3 was projected to extend nearly 4.23% of Wave 1, with its minor wave 5 being extended.
D. Wave 4 represented a Zig Zag correction, consistent with the principle of alternation, as Wave 2 was a flat correction. Given that Wave 3 was extended, a deeper Wave 4 is anticipated, retracing to around 50%.

Currently, we are in major Wave 5. Its minor waves 1 and 2 appear to be completed, and we are presently in minor Wave 3. To validate our assumptions, it is evident that the stock has experienced a significant rally accompanied by increasing volumes, which is characteristic of Wave 3.

In terms of trading strategy, we can consider building our positions in a phased manner, allocating a portion at current levels and the remainder on dips or upon receiving further bullish signals, such as candlestick patterns or when the RSI crosses the 60 mark on daily or weekly charts.

All significant levels and descriptions are indicated on the chart.

DISCLAIMER: It is important to note that the information provided in this analysis is intended solely for educational purposes. It is strongly advised to consult with a financial advisor prior to making any investment decisions. I cannot be held responsible for any financial losses that may occur.