Hindustan Unilever - Short - Target 2197, 1978
Of various possibilities (more than 5), the current wave being wave C of cycle correction, seems appealing. It has already achieved its objective through wave 1, so wave 4 (the C of which is in progress) may be sluggish and may fail to completely unfold as irregular correction. In reasonable expectations, down to 2197 seems sine qua nan.
the current wave, may also take form of triangle, as final leg of correction, its too premature to expect that at this stage.
However, in all probabilities, including assuming the previous rally as wave 1 of next cycle, a deeper retracement is due to achieve 61.8%.
Conclusion : I am looking to short, expecting views from TV community.
Disclaimer : as given in my earlier posts.
the current wave, may also take form of triangle, as final leg of correction, its too premature to expect that at this stage.
However, in all probabilities, including assuming the previous rally as wave 1 of next cycle, a deeper retracement is due to achieve 61.8%.
Conclusion : I am looking to short, expecting views from TV community.
Disclaimer : as given in my earlier posts.
Trade closed: stop reached