If we see support coming from the rising trendline between 360-365 against 350 which is a critical level for future price action we can see Jeweller jumping close to 420-425 where it faces the next hurdle.
Having said that-trader always have to move their stops as the market moves so he does not faces trouble in future.
As per waves -likely we get minor wave-Y holding above 350 & kissing target zone 420-425 giving us excellent risk reward ratio.
You would love to read my previous updates
PC Jewellers -Played Kai-pidi with 350- Bang on move
Turning down just below 425- Amazing!
Kissing 350-354 & turning back again- Amazing!
Moving above 385 can go close to 395 if extends above 395 hold your long positions with trailing stops below 395 -Book profits & likely if starts falling back again below 395 after making a new high -enter a short trade with recent high as stop target 275 & below 275 to 265
Day High@420-421 has kissed the objective 420-425.
Thanks for your support. Take Care.
Oh, it falls sharply from 421 highs - so the move has started downside is the question to be asked to ourselves.
Moving above 425 has opened new zone & this up move can extend to 465-480 zone but if you missed -look a pullback to take long positions as I always advocate never jump in a running vehicle.
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw