Greetings Folks,
today I have prepared a setup of NYKAA on NSE
the analysis is as follows-
- the price was in a constant downtrend from the start
- it formed consecutive 4 equal highs in span of 260 days
- price today broke out of this static resistance, can hope for a reversal
- price was making minor higher lows
- the elliot correction wave ABC also adds to our confirmation in bias
don't play with fire, always use a predefined stoploss
today I have prepared a setup of NYKAA on NSE
the analysis is as follows-
- the price was in a constant downtrend from the start
- it formed consecutive 4 equal highs in span of 260 days
- price today broke out of this static resistance, can hope for a reversal
- price was making minor higher lows
- the elliot correction wave ABC also adds to our confirmation in bias
don't play with fire, always use a predefined stoploss