Shown above is the weekly chart of Transformers And Rectifiers Ltd. As we can see that the stock has given multiple breakouts of a triple top and a head and shoulder pattern in the last week. Also the stock is sustaining above all the moving averages. As we can see, a few weeks ago the 200-day moving average had crossed the 50-day moving average on the downside,giving strength to the stock. The 100-day moving average seems to be forming a perfect rounding bottom formation indicating an up move for the stock. Coming to the Elliot Wave count,
we can see that the stock had completed it's 3rd wave a few months before and then entered into a long A-B-C correction. The stock finally completed it's correction and is now heading towards the completion of the fifth wave, which is likely to be an extend wave as the formation of the chart is indicating. Therefore, I expect the stock to move up to the levels of 285-290. It would be safer to buy the stock above 258 maintaining a stop loss below 215. 
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