Be prepared for a correction

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TVS Motors CMP3495

Elliott - the entire swing from the bottom is the 3rd wave and is over. The Box method is clearly demonstrating that the rally is done. From here a deep three wave correction should start.

RSI - thats a clean divergence on the top.

Detrend - the detrend has again reached it extreme.

Composite - the oscillator below its MA by the end of the month will be a confirmation of the weakness in the counter.

Conclusion - traders u need to book profits as this correction can be deep and time taking.

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