HSIL:Primary 4 ending.

HSIL seems to be following impulsive price movement.

Primary degree wave 4 seems to be in progress,price breaching white 0-B trendline along with breaking above 250 will confirm end of Primary wave 4 and start of wave 5.

One can go long at cmp of 237.50 as we already have 2-4 trendline breach along with wave 4 break-out of the wave c on intermediate degree.Stop-loss can be 192 pivot low as we have seen price taking lower channel support.target can be 277 beyond which it will go in uncharted territory.Although risk-reward seems 1:1 at the moment but wave 5 target of equality of wave 1 in terms of percentage is coming at 360.

Disclaimer:This are jsut my views on the stock,no postion should be build or exited on its basis.I am posting this just for my future reference.
Trade closed: target reached

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.