IS BRITANNIA THE HOTTEST INVESTMENT OF 2023?
Updated
In the previous idea, we initiated a short position in NSE BRITANNIA to trade wave C of wave (4). Price reached all the given targets.
[2 January 2023] - NSE Britannia – The Last Move of Correction
Timeframe: Daily
NSE BRITANNIA has accomplished wave C of wave (4) and started rising for an impulsive wave (5). This corrective wave (4) has a 38.2% retracement, one of the most common retracements.
According to the Elliott wave principle, the impulsive cycle can only confirm after the breakout of the previous corrective wave. Price has broken out the correction channel, but wave B must break for the 5th wave to form.
If the price breaks out wave B at 4407, traders can trade for the following targets: 4456 – 4500 – 4558+. However, failure will continue its corrective formation and lead to a new low. In case of failure, we will change our position with selling targets.
[2 January 2023] - NSE Britannia – The Last Move of Correction
Timeframe: Daily
NSE BRITANNIA has accomplished wave C of wave (4) and started rising for an impulsive wave (5). This corrective wave (4) has a 38.2% retracement, one of the most common retracements.
According to the Elliott wave principle, the impulsive cycle can only confirm after the breakout of the previous corrective wave. Price has broken out the correction channel, but wave B must break for the 5th wave to form.
If the price breaks out wave B at 4407, traders can trade for the following targets: 4456 – 4500 – 4558+. However, failure will continue its corrective formation and lead to a new low. In case of failure, we will change our position with selling targets.
Note
Thank you for appreciation. :)Trade closed: target reached
TP 1: 4556TP 2: 4500
Note
TP 3: 4558All Targets Done!
Trade closed: target reached
Trade Closed!!!!!Note
Indeed!
Related publications
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.