Grasim spot cmp 1750 levels
cup and handle pattern formation, where breakout can be confirmed above levels of 1835 , need 2 consecutive daily close above levels for confirmation
symmetrical triangle pattern formation, where counter have resistance zone around 1790-1825 levels and support zone around 1690-1720 levels.
decisive breakout on any side would lead to a move of 8-10% on either side.
pre assumption of harmonic pattern formation. if the formation goes according to ploting, counter would give sharp retracement to levels of 1450-1500 levels,
elliot wave suggest counter is trading in 5th wave of motive phase, now as there are cofluence of resistance around 1790-1830 levels wave 5 can be trucated in nature and soon the motive phase might come to end, now if happens so motive phase would lead counter to good retracement levels,,
time to book you long position on every rally, now investment should be considered only above levels of 1835 on 2 consecutive close,
Bulls need to be cautious at current juncture.
cup and handle pattern formation, where breakout can be confirmed above levels of 1835 , need 2 consecutive daily close above levels for confirmation
symmetrical triangle pattern formation, where counter have resistance zone around 1790-1825 levels and support zone around 1690-1720 levels.
decisive breakout on any side would lead to a move of 8-10% on either side.
pre assumption of harmonic pattern formation. if the formation goes according to ploting, counter would give sharp retracement to levels of 1450-1500 levels,
elliot wave suggest counter is trading in 5th wave of motive phase, now as there are cofluence of resistance around 1790-1830 levels wave 5 can be trucated in nature and soon the motive phase might come to end, now if happens so motive phase would lead counter to good retracement levels,,
time to book you long position on every rally, now investment should be considered only above levels of 1835 on 2 consecutive close,
Bulls need to be cautious at current juncture.