The price moving in rising wedge and adhering to Elliot Wave rule.
Impulse wave (i) - from level Rs 248.70 to Rs 561.55
Correction wave (ii) - price retrenched to fib 50% of wave (i) i.e Rs 405.15
Impulse wave (iii) - equal to fib 1.618 of wave (i) i.e., Rs 780.70
Correction wave (iv) - retrenched to Rs 628.05 i.e., is equal to distance of wave (ii)
Impulse wave (v) - final leg of impulse wave is on and expected target will be fib 2.618 of wave (i) i.e., Rs 1067.75 with stop loss below Rs 755.
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Impulse wave (i) - from level Rs 248.70 to Rs 561.55
Correction wave (ii) - price retrenched to fib 50% of wave (i) i.e Rs 405.15
Impulse wave (iii) - equal to fib 1.618 of wave (i) i.e., Rs 780.70
Correction wave (iv) - retrenched to Rs 628.05 i.e., is equal to distance of wave (ii)
Impulse wave (v) - final leg of impulse wave is on and expected target will be fib 2.618 of wave (i) i.e., Rs 1067.75 with stop loss below Rs 755.
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Comment:
price near resistance level !!
Comment:
certainly price moving toward target, strong momentum in stock.
Trade closed: target reached: