Wave X of Higher degree complex wave B ending above 1124.
*Larger Structure
Post Adani group indictment news we are seeing ABC corrective pattern(shown in Purple) unfolding of which wave B has taken a very complex form.
*Path way ahead
This wave B has taken a form of complex WXY correction(shown in Blue) of which wave X has also shown complex WXY correction(shown in Green).Currently we are in Green WXY of which wave X fall has ended in todays session.Going ahead we can see prices moving in upward direction in the form of wave Y to completed Green WXY which would complete Blue wave X of Purple wave B,post which we can see another fall which would complete Blue WXY which in turn complete Purple wave B,post which we can see another raise in the form of Purple wave C.
*Action to be taken
Currently one can go long between 1124-1100 with the downside stop-loss of 1050 for an target of 1310-1315 giving us a risk reward of 1:3
Disclaimer:This are just my views on the stock,no position should solely be taken on its basis.Posting this just for my future reference.
Post Adani group indictment news we are seeing ABC corrective pattern(shown in Purple) unfolding of which wave B has taken a very complex form.
*Path way ahead
This wave B has taken a form of complex WXY correction(shown in Blue) of which wave X has also shown complex WXY correction(shown in Green).Currently we are in Green WXY of which wave X fall has ended in todays session.Going ahead we can see prices moving in upward direction in the form of wave Y to completed Green WXY which would complete Blue wave X of Purple wave B,post which we can see another fall which would complete Blue WXY which in turn complete Purple wave B,post which we can see another raise in the form of Purple wave C.
*Action to be taken
Currently one can go long between 1124-1100 with the downside stop-loss of 1050 for an target of 1310-1315 giving us a risk reward of 1:3
Disclaimer:This are just my views on the stock,no position should solely be taken on its basis.Posting this just for my future reference.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.