Cipla breaks the range

Hi friends,

                 Cipla is one important player in pharmaceutical segment in India.

Lets look at the cipla structure it brokeout from its slanting down channel

recently.Let me put the chart.

From the chart we can see the full

fall structure,When i count the waves

from top i see wxyxz finished.

Which can be seen clearly from

the chart.The red count denotes

WXYXZ and yellow denotes internal

structure of each wave.

By this count we can see that an 

important low has been formed 

at 368,And i don't see that breaching

soon ,A trader should look for buying this stock in correction as long as 368 holds.

A target of 450 should be seen in this stock .Once it corrects the recent rise it should be 

a good buy.

Regards

Rish