After going through the Pankaj's super bullish views on RCom spent some time on the charts. Two charts are posted below. Rcom is still in the bearish mode. A 5 wave impulsive down has completed and a correction to that move is going on.
Presently Rcom is in B c iii there is still room for more down side, before the upmove in wave C begins. There is still an outside chance that it may not be a B down but W 2 but I believe otherwise simply because that it has moved too close to the lows of so called W1 yet technically possible that W3 starts from there as Pankaj thinks. Well wave B can go below the lows of A as in irregular corrections.
W 3 or W C both offers an opportunity to mint great money, so keep an eye. I will take a ride once I see some sign of reversal, although I might buy a little expensive.
Happy Trading !
SHEKHAR
