This stock is a very crucial point ie. RAS( Resistance acting as support). And in mid term it has formed a Wolfe Wave, the wave counting has been mentioned in the chart. 5th wave may get initiated soon.
The completion of 3rd wave and initiation of 4th wave has been confirmed at 1.618 Retracement level .
However the completion of 4th wave and Initiation of 5th Wave is not yet confirmed, although the stock the stock has kissed 0.786 Retracement level of 2-3rd Wave & Trendline support of 0-2-(4) & RAS of 10th JAN 2019. Most probably it should reverse from here.
Any confirmed reversal candle pattern has not been seen.
Once any BUY signal is seen , it will be updated in updated ideas section
CHART & ANALYSIS
Adarsh Dey
The completion of 3rd wave and initiation of 4th wave has been confirmed at 1.618 Retracement level .
However the completion of 4th wave and Initiation of 5th Wave is not yet confirmed, although the stock the stock has kissed 0.786 Retracement level of 2-3rd Wave & Trendline support of 0-2-(4) & RAS of 10th JAN 2019. Most probably it should reverse from here.
Any confirmed reversal candle pattern has not been seen.
Once any BUY signal is seen , it will be updated in updated ideas section
CHART & ANALYSIS
Adarsh Dey
Comment:
First sign of reversal has been seen. A bullish Engulfing pattern has been formed. Hopefully it would reverse from here. If tomorrow the close doesn't break todays low.One can go long with a proper SL.
Comment:
Retesting of support and a good opportunity to BUY
