The stock market is still rising,so it seems like Dilip Buildcon wave 4 correction has been completed at 513.10 on 28th May'21, and we are in the new impulse strcture which could unfold in 5 waves ahead labelled as wave 5, we are assuming that wave 5 of wave(i) is in underway, one can go long at CMP, with a invalidation level @ 513.10, and the upside target of 590, 650 & 800 for the Medium term outllook (Positional Trade Setup).
Elliot Wave Medium Term Outlook: PHOENIX MILLS might be at the beginning of wave C rally
Confirmation to Buy @ CMP
Invalidation level @ 789
Upside Target: 885, 910, & 944
The stock has completed its double zizag corrective structure labelled as wave (X) at 652.80 on 19th March'21 formimg a bottom, we are still in a bullish corrective structure which we have labelled it has (w,x,y) and projecting a target till 885 & 944, any decline in the price further could give us a buying opportunity.
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