Insecticides India - Bullish Opportunity
Updated
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.
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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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