After completing cycle of Elliot Wave 1-2-3-4-5; UPL has completed counter waves A-B-C. Please note that waves are always taking base at F6 at the Bottom and F12 at the top of the unique indicator of the Author. Risk averse investors can buy above 602. But as suggested by GANN always buy when price crosses 3rd square so buying above 609 is very same.
Execution Idea: There are four days left in the week. Today is holiday at NSE and left are
W,T, and F as working days, Let the proper levels come and this time is utilized to bring all the moving averages into order.
Next week onwards you can expect bullish trend in UPL.
Author uses Gann, Fibonacci, Wave Analysis and his unique indicator created with confluence of all these three. It avoids tedious Price, Time and Volume Analysis. Please dont be greedy or fearful to execute before level are achieved.
Use other indicators like William%R, EMAs and SMAs for execution.
Disclaimer:
The content has been created for educational purpose and author is not responsible for any of your losses and profits. He is not a SEBI Registered Analyst.
Together we grow. Happy to share. Please refer to other analysis on this stock by the author which are being attached.
