Do you think CDSL is breaking out? My counts say otherwise

4 Jul

No signs of trend reversal yet..

But the Momentum oscillators tells a different story.

Price is at the fag end of the 3rd wave impulse of the final 5th.

This could terminate anywhere between 1850-1900.

1880 is the 0.886 fib level, and I believe that the price to get rejected there.

On daily TF, price has seen Golden Crossover and moving up. A retest of the 50 DEMA (at around 1500-1600) is what I am looking for. That could give a good entry with decent risk for the next impulse (3rd wave)


Here is the count on Larger TF




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.

5 Jul

Dagangan aktif

Some great responses to CDSL chart :) The move from iv th (1590) is exhibiting 3 waves structure.. Hence, marking this vth of 3rd as abcde

This would mean that that final 5th could head higher in an abc move.. This gets invalidated below 1630..

Overall, this script is better off to buy at lower levels..

5 Jul

Nota

Or the ALT count is that we havent completed the ivth yet..



This becomes invalid if we breakout above 1820