Sonata Software - Bullish Opportunity
Updated
We have a bullish opportunity for Sonata Software - positional long:
- Trend seems to be upwards on Monthly and Weekly TFs
- On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone
- As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be forming a good solid 3rd Wave upwards on 1-D TF
- Entry can be done at 620-625ish and Targets can be 650, 688, 700 for immediate swings. If the momentum carries forward, we will revisit for exact target of when 3rd wave completes later.
- Trend seems to be upwards on Monthly and Weekly TFs
- On 1 Day TF, we have price reacting upwards from nearest 1-D Demand Zone
- As per Elliott Wave model, price is forming bullish impulse wave upwards as shown in the chart. Currently, it seems to be forming a good solid 3rd Wave upwards on 1-D TF
- Entry can be done at 620-625ish and Targets can be 650, 688, 700 for immediate swings. If the momentum carries forward, we will revisit for exact target of when 3rd wave completes later.
Trade active
Stay tuned, the spot price is still above Wave 2 and nearest 1-D Demand Zone. Let's check the structure formation in next week and will then update the idea with comment accordingly. 
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