HAL - End of short term correction? 1000 pts rally on the cards?
HAL - CMP 4048
TF: 90 minutes
Looks like the first leg of correction (A) is almost done in a 5 wave structure.
Internal counts are marked
Diagonal is visible at the end of this sideways correction/consolidation
Price is still holding the June 4th lows.
Looking at the sideways correction on weekly TF (see below), looks like the price cant fall one way down, and hence a retracement is expected. You will also notice that price is at the DEMAND zone on weekly TF
For this B wave (until or otherwise it breaks a specific Fib/invalidation level, the count remains corrective, and hence, it is considered as corrective rise B), the minimum expectation is 50-61% retracement of this entire fall. That would be 4800-5000 levels.
We will decide the next course of action depends on how well the price reacts at that zone.
For now, fresh shorts are not advisable and a low risk LONG Set up could emerge soon
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
TF: 90 minutes
Looks like the first leg of correction (A) is almost done in a 5 wave structure.
Internal counts are marked
Diagonal is visible at the end of this sideways correction/consolidation
Price is still holding the June 4th lows.
Looking at the sideways correction on weekly TF (see below), looks like the price cant fall one way down, and hence a retracement is expected. You will also notice that price is at the DEMAND zone on weekly TF
For this B wave (until or otherwise it breaks a specific Fib/invalidation level, the count remains corrective, and hence, it is considered as corrective rise B), the minimum expectation is 50-61% retracement of this entire fall. That would be 4800-5000 levels.
We will decide the next course of action depends on how well the price reacts at that zone.
For now, fresh shorts are not advisable and a low risk LONG Set up could emerge soon
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
Dagangan aktif
#HAL is Setting up nicely for Wolfe Wave pattern
Waiting for it to come back in to the trendline
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.