if you look carefully , you will find always always market repeat itself , But most do not see it due to lack of Proper education
Professional always follow the pattern and & direction of Pattern ,
Irony is when few people try to copy chart form Professional analyst , they really do not understand even by copying it ,
Some one commented that I dont know Technical analysis , its true Because i dont fell for Hertz mentality ,
Technical analysis is not only a price data analysis it also has logic and psychology in it , Logic that gives you an edge while taking a trade or placing trade
psychology is one which gives an visual representation of Mass People participation's in the form of Repetitive patterns
And this scrip is repeating it self , one can view an visual info on the chart and try to Understand it
Good luck
Comment
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One has consider Many factors while taking account of trend change based on HTF
here I cant explain everything because we call it as research but Logical Explanation should be treated in logical manner if primary forecast works then no need of alternative forecast if primary forecast do not pan out then alternative forecast should be ready
I have given an explanation on Past movements in this scrip I am looking for developing forecast so either my primary forecast will work or alternative forecast will work
at this moment alternative forecast has worked perfectly tagging one of the price of 139.65 and bounced
You made it look so simple and easy to understand.. which speaks high of your skills and knowledge. Where is this headed? How many more such patterns are left on this chart/script.. any thoughts on target and timeline?
ShreeKrishna
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@Murthy_Santhosh, Thank Q for your comment , Right now its having an higher possibility of move up making this recent low as Final drop , its developing currently , So i am also looking completion of this development following a moderate correction
You can wait for weekly strong close in order asses the potential reversal
Good luck
Murthy_Santhosh
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@ShreeKrishna, Great then. I will closely assess and add more when it corrects to around 132-138 zone. Thanks a Ton.. Look forward to learning more from you!
You are Welcome , I am just attaching an possible structure formation based on current price moves
Look for reversal and Expect either side ways correction or continuation
Check the chart
Murthy_Santhosh
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@ShreeKrishna, Thank you.. that looks precise... I will buy at around 138-139 zone.
rudraprasad389
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@Murthy_Santhosh, You can buy now as it has come below your expected levels
Murthy_Santhosh
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@rudraprasad389, Thank you.. I bought this at 133.5 levels on Friday. Dont you think it will retest 129-130 levels before reaching 140 for starters? It appears to me that it will touch 130 first.. what do you think?
Thanks again for taking the time to write to me more of like a Mentor..
Wish you good luck!
Magudarasan
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@ShreeKrishna, Hi Shreekrishna thanks for your analysis. As per earlier chart, the swing low should touch around 120 and bounce back right. In your 4th possible pattern. But in the recent chart, you are indicating that it will have the pattern between 138 and 150.