BDL - Let's welcome the new entrant to F&O

30 Mei

CMP: 1985
TF: 144 minutes

Chart is about to complete the 3rd wave from the lows of 890. Internal counts are marked for better understanding.

This upmove can get terminated at around 2100-2150 levels most likely.

38% retracement from 2150 levels is at around 1650-1670; we can target that for the 4th wave bottom. 1650 range is also happens to be the channel bottom/trendline support and also we can spot FVG at the same level.

For the 5th wave up, we are looking at 2360 as per the Harmonic pattern copied below.



Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. 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. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.

30 Mei

Dagangan aktif

Nice rejection from the 2100 levels as expected.. The script has formed Wolfe Wave pattern now and is trading inside the trendline.. Although I was expecting 2150 on this leg up, if the price continues to decline from here, we would march towards 1650-1700 range very soon.

17 Jun

Dagangan ditutup: sasaran tercapai

Although price has broken the swing low at 1842, the fall is too shallow/slow grinding and overlapping.. And because of the same, I am closing this view for now.. Will re-enter once I see impulse price action at some point

Here is the possible path with counts for referece

18 Jul

Nota

Today it closed at 1672.. Reached the desired objective level for the 5th wave.. No more short view on this counter for now

23 Jul

Nota

Thats a classic 4th wave move reaching the target in style in BDL.

We are now closer to the completion of 4th wave on this counter.. (5th of C is in progress)..

NO more shorts at this level.