neotheicebird

AMARAJABAT - Testing 55EMA

Long
NSE:AMARAJABAT   None
AMARAJABAT is testing the 55EMA resistance, if it breaks, we could see a good third wave of a long term elliot wave.

Having reached 50% of the minor wave already and bounced upwards, its unlikely that we see a downtrend, but in case of downtrend, the best entry would be at 582-604 range, which are 65%-61.8% fib retracement levels.

Current Setup:
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Entry - 740 (modest)
Exit - 1344
SL - 715 (1% below current 55EMA), 705 (2% below)

Disclaimer: This is not financial advice, please do your own research before making any trading decisions.