Jio Financial - update
https://www.tradingview.com/x/3xD5y81R/
1. Rejection area was R 3 Level,
2. Acceptance Area is S 3 Level.
However, point to know is that for moving from S3 to R3 it took only 10 days but it returned back to S3 Level in almost more than 1 month. The reason for this is that it went up straight line like a perpendicular and came back in the shape of hypotenuses and by Pythagoras theorem
P Square + B Square = H Square. In other words Hypotenuses has more length than Perpendiculars. So, it is for sure that it will go more than the R 3 level because of the same concept which we can call as wave 3 as well. But, it may take much more time than before to go up. If we are patient enough, it is going to give very good returns in times to come.
3. Now that recovery has started but the first resistance is high of candle of 29th August 2023. Buy, above this level and wait for 100% recovery in next 40 days, However, retailers should be careful in booking their profits simultaneously. First Target from here should be high of 14 September 2023 level, which may be achieved till Diwali.
4, But, it all depends upon liquidity available to smart money. So, definitely we should use RSI or Williams R% to make any decision. There is not guarantee that it will not break even the low in future and touch level of 172
Go on investing, slowly and wait for levels to come.
1. Rejection area was R 3 Level,
2. Acceptance Area is S 3 Level.
However, point to know is that for moving from S3 to R3 it took only 10 days but it returned back to S3 Level in almost more than 1 month. The reason for this is that it went up straight line like a perpendicular and came back in the shape of hypotenuses and by Pythagoras theorem
P Square + B Square = H Square. In other words Hypotenuses has more length than Perpendiculars. So, it is for sure that it will go more than the R 3 level because of the same concept which we can call as wave 3 as well. But, it may take much more time than before to go up. If we are patient enough, it is going to give very good returns in times to come.
3. Now that recovery has started but the first resistance is high of candle of 29th August 2023. Buy, above this level and wait for 100% recovery in next 40 days, However, retailers should be careful in booking their profits simultaneously. First Target from here should be high of 14 September 2023 level, which may be achieved till Diwali.
4, But, it all depends upon liquidity available to smart money. So, definitely we should use RSI or Williams R% to make any decision. There is not guarantee that it will not break even the low in future and touch level of 172
Go on investing, slowly and wait for levels to come.
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.
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.