TF: 144 Minutes
The stock is exhibiting 3 Rise method, which is also another form of wave 1.
Once the set up is complete (that is, wave 2 pullback at the end of the 3rd rise), we can expect a strong impulse move for the 3rd wave up.
Observations:
- Price has been making HH and HL structure after coming out of the falling channel
- Price has got rejected from the 200 DEMA and trading near 50 DEMA
- Price has been comfortably trading above the CLOUD and pulling back (and possibly retesting the cloud base again)
- decent volume activity whenever the price is around 95
- There is a GAP between 89-92, which could possibly be filled in this pullback..
- But, between 95 and 90, this script looks to offer a great LRHR set up as the next leg up (third wave) could take it 130 and beyond.
View becomes invalid if the price moves below 86.5
Daily chart is copied below for better understanding
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.
The stock is exhibiting 3 Rise method, which is also another form of wave 1.
Once the set up is complete (that is, wave 2 pullback at the end of the 3rd rise), we can expect a strong impulse move for the 3rd wave up.
Observations:
- Price has been making HH and HL structure after coming out of the falling channel
- Price has got rejected from the 200 DEMA and trading near 50 DEMA
- Price has been comfortably trading above the CLOUD and pulling back (and possibly retesting the cloud base again)
- decent volume activity whenever the price is around 95
- There is a GAP between 89-92, which could possibly be filled in this pullback..
- But, between 95 and 90, this script looks to offer a great LRHR set up as the next leg up (third wave) could take it 130 and beyond.
View becomes invalid if the price moves below 86.5
Daily chart is copied below for better understanding
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.
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.