NSE ZEEL Could Be Nearing the Start of Its Next Rally

May 22

ZEEL is still trading inside a falling corrective structure after the rejection near the 91. Price continues to make lower highs inside the channel, which shows that short-term momentum is still weak.

The current decline is now getting close to the important 79 - 80 support zone. This area also matches the projected completion region for wave 4, so there is a chance the selling pressure may begin slowing down from here.

For now, the structure remains corrective while the price stays inside the channel. Since this is a wave breakout setup, entry is only possible after a confirmed breakout above the falling channel.

If buyers manage to reclaim momentum after the breakout, the next upside targets come in around 86.25, 90.32, and 94.5.

We will update further information soon.

By BrightRally_Research on TradingView platfrorm

May 27

Trade active

11% achieved! 2nd TP Reached

For educational purposes only!