Insecticides India - Bullish Opportunity
We have a bullish opportunity for Insecticides India - positional long:
- Trend seems to be upwards on Monthly and Weekly TFs
- On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone
- As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be just starting to initiate a 5th wave upwards on 1-D TF
- We will wait for proper impulse formation until price crosses 855ish and then time an entry on hourly or 75 Mins TF chart. As of now, this is on my radar/watchlist.
- Trend seems to be upwards on Monthly and Weekly TFs
- On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone
- As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be just starting to initiate a 5th wave upwards on 1-D TF
- We will wait for proper impulse formation until price crosses 855ish and then time an entry on hourly or 75 Mins TF chart. As of now, this is on my radar/watchlist.
Trade active
Seems the spot completed 4th wave at 690ish after one more dip, absorbed nearest 1 day's Demand Zone and then trying to go upwards. Let's await spot crossing 830ish levels and then we will see if it's creating a bullish Elliott structure.
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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.