TF: Daily
Looks like 5th wave is in progress
4th Triangle seems to have matured..
Harmonic Bullish Shark Pattern seems to be in play
DEATH CROSS is seen (50 DEMA Cutting Down 200 DEMA)
Price is getting rejected at the cloud bottom
But 5th being 5th, we cant exactly predict the bottom here.. it could terminate anywhere below previous low.. Trail SL carefully.
We are approaching the bottom on this leg down.. that is for sure..
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. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Looks like 5th wave is in progress
4th Triangle seems to have matured..
Harmonic Bullish Shark Pattern seems to be in play
DEATH CROSS is seen (50 DEMA Cutting Down 200 DEMA)
Price is getting rejected at the cloud bottom
But 5th being 5th, we cant exactly predict the bottom here.. it could terminate anywhere below previous low.. Trail SL carefully.
We are approaching the bottom on this leg down.. that is for sure..
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. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
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Updated chart on Zomato.. then and now.. Price reached 210.. Price has been falling one way since 230 mark without a meaningful bounce
A bounce at around 200 (being a psychological support (round number) cant be ruled out
The 215 zone is a strong magnet before (the black dotted line) Price should at lest test one or two more times before it falls further.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.