LAXMI ORGANICS - Start of New Bull Run?
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The stock has undergone a correction since 2021 after reaching its all-time high. Upon analyzing the correction, it appears that wave ABC has concluded at the 225 levels. The internal waves within ABC adheres to the Fibonacci ratio, with wave C being approximately 100% of wave A. The stock found support at the minor wave 2 of the major wave 3 from the previous bull run, positioning us at favorable levels in terms of risk and reward. Currently, it seems that we are in the initial stages of the major wave 1 of the upcoming impulse or bull run.
To approach trading this situation, we can establish our position in two phases. The first part can be initiated at the current market price, followed by the next position once a retracement to the 38%-50% range occurs after reaching our minor wave 4 level of 395.
The wave counts, entry points, stop loss, and target levels are all indicated on the chart.
Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
To approach trading this situation, we can establish our position in two phases. The first part can be initiated at the current market price, followed by the next position once a retracement to the 38%-50% range occurs after reaching our minor wave 4 level of 395.
The wave counts, entry points, stop loss, and target levels are all indicated on the chart.
Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
Komen
The onset of the third wave seems to have commenced. It is imperative that the levels between 250 and 255 remain unbreached if our analysis of the third wave unfolding is correct.Komen
The stock has given good moves with sharp rallies which matches the personality of 3rd wave. It also has taken out the pervious swing high (4th wave of the previous impulse)
Will keep posted for low-risk entry to pyramid
Penafian
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