Kansai Nerolac Analysis. As on 2 Nov 2019. CMP 537
On the daily chart, wave 5 appears extended and so does wave 5 of 5. We cannot rule out small new highs above 572, but the next significant move should be a decline to the 450 – 460 level.
This also offers a bullish opportunity given the preceding 5 wave impulse.
Buy : 450 – 460
Stop Loss : Below 399
Target : Above 572, and likely above 608.
Added to stocks to watch or trade section.