Bhansali Engineering: Wave (iv) Pullback Near Structural Support
Bhansali Engineering delivered a strong Wave (iii) advance, accompanied by a significant expansion in volume—a sign of broad market participation.
Price is now undergoing a Wave (iv) correction. Healthy trends often pause after a sharp impulsive move, allowing momentum to reset before attempting the next leg.
The Point of Ruin at ₹108 is the key level to monitor. As long as price holds above this support, the current bullish structure remains valid and keeps the possibility of Wave (v) intact. A decisive close below this level would invalidate the current count and suggest the market structure needs to be reassessed.
Educational purposes only. Not investment advice.
Price is now undergoing a Wave (iv) correction. Healthy trends often pause after a sharp impulsive move, allowing momentum to reset before attempting the next leg.
The Point of Ruin at ₹108 is the key level to monitor. As long as price holds above this support, the current bullish structure remains valid and keeps the possibility of Wave (v) intact. A decisive close below this level would invalidate the current count and suggest the market structure needs to be reassessed.
Educational purposes only. Not investment advice.
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5% up from the support zone :)Note
7% up from support zone
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.