Prestige - Trading below Demand zone
CMP: 1594
1616 was the low of the wide range bar formed on 2nd Dec. Price closed below that yesterday and the attempt to regain has failed in the first hour today.
On EW counts, looks like WXY is in play for now. And the Y wave will have to go below 1500 to complete the pattern.
On Indicators :-
Price is Trading below Cloud
Price is Trading below 200 DEMA
Daily RSI below 40
With an SL of 1616 (DCB), this stock is giving a good LRHR set up to short.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
1616 was the low of the wide range bar formed on 2nd Dec. Price closed below that yesterday and the attempt to regain has failed in the first hour today.
On EW counts, looks like WXY is in play for now. And the Y wave will have to go below 1500 to complete the pattern.
On Indicators :-
Price is Trading below Cloud
Price is Trading below 200 DEMA
Daily RSI below 40
With an SL of 1616 (DCB), this stock is giving a good LRHR set up to short.
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
Trade active
We are looking at 1340-1100 in the next few weeks
Wave counts on Different time frames:
Weekly:
Daily:
Shorter TF:
Trade closed: target reached
That was quick.. closing this post for now..
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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