Piramal Enterprises Then & Now..

Piramal Enterprises Then & Now.. Price has declined 34% since we issued our bearish call. (Readers are advised that some of the labelling has been altered in the latest charts).

Then… Piramal Enterprises Elliott Wave. As on 21 Sept 2018. CMP 2940

Piramal Enterprises Elliott wave

Piramal Enterprises Elliott wave

And Now… Piramal Enterprises Elliott Wave Analysis. As on 29 Oct 2018. CMP 1930

We absolutely nailed this call.  In our posts of 30 Aug, 21 Sept (when price was 2940), we said “Price is in a 4th wave triangle or flat, and

should decline sooner rather than later…. We would be on alert for a reversal once price dips below 2600.  If a 4th wave triangle, price would reach the 2500 level in wave C. If a 4th wave flat, price would test the wave A low at 2279”

On 15 Oct, we added “The minimum we are looking at over time is 1600 as a target”

Today 29 Oct, lets look at where we are at now.  Price declined to 1796 on Oct 26.  And crucially…. 

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