AbhishekHSinghCMT

PFC 2016 Diary- Look for a pullback 118-120 to buy

NSE:PFC   POWER FINANCE CORP
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6
The Structure is looking choppy & confusing from a long term point of view as wave-4 looks not be completed yet as a possibility.

Trading Strategy
We shall look for a pullback in the zone 116-120 if holds downside on the trendline, then short term upside move could be expected in 130-133 zone.

This is how we moved in 2016

In below shown charts- click the chart & use load bar feature

Monthly Chart- Bullish Above 173

Look to buy in the Zone 97-105
Trade closed manually: 08:07 Hrs 18th Jan2017

Last Price@137

Did not get the pullback---hmmmm
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Comments

i think there are two possiblities--either wave 4 finished at 103.15 and also 5th wave finished or at 112.9 as triangle correction and 5th wave starting.
let me what do you think about this..thank you
Reply
AbhishekHSinghCMT chauhanveerendra89
@chauhanveerendra89, Not sure at the moment- there are lot of possibilities so, will wait that is best strategy what I never do is ---it could be -that could be -actually it consumes lot of time & we just fill our egos rather than making money.
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chauhanveerendra89 AbhishekHSinghCMT
haha kkk
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Hi Abhishek, I see that you have been posting ideas since 6:30 in the evening. Just curious to know... how much time do you spend scanning charts after market hours?
Reply
@VPS, I have a job as well, so usually it depends but 2-3 hrs on a daily basis.
Reply
VPS AbhishekHSinghCMT
Thanks for sharing!
Reply
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