Indigo - A low risk short set up
Güncellendi
Rationale:
Primary 3rd wave seem to have ended at 5035 (charts with counts are attached); and from there on, I could see 3 wave down from the top and a three wave rise from the bottom. Hence, the move appears to be corrective.
Price is getting rejected at the supply zone of 4700-4800. And I consider this a X or B terminating the upmove.
If the seller at 4700 is to take over, then he can easily push it down again to 3700 levels or lower)
I expect this final leg of correction to hit 3300-3500 levels. break of 4190 would give additional confirmation
View becomes invalid if the price goes above 4700. Low risk trades can keep 4650 as SL
Daily Chart with counts:
on very very short term, price has completed 5 wave impulse, and a pullback towards 4630 cant be ruled out
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
Primary 3rd wave seem to have ended at 5035 (charts with counts are attached); and from there on, I could see 3 wave down from the top and a three wave rise from the bottom. Hence, the move appears to be corrective.
Price is getting rejected at the supply zone of 4700-4800. And I consider this a X or B terminating the upmove.
If the seller at 4700 is to take over, then he can easily push it down again to 3700 levels or lower)
I expect this final leg of correction to hit 3300-3500 levels. break of 4190 would give additional confirmation
View becomes invalid if the price goes above 4700. Low risk trades can keep 4650 as SL
Daily Chart with counts:
on very very short term, price has completed 5 wave impulse, and a pullback towards 4630 cant be ruled out
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
İşlem aktif
4300 came in style.. but I missed it with a slight doubt that the price could possibly pullback to 4600 on shoter TF.. but the expected pullback didnt happen and the price fell. hard luck..
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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.