ASTRAL
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It looks like ASTRAL has accomplished the corrective structure and started forming motive waves.
Price has ceased the sub-wave 5 of motive wave ((c)), and the length of wave (A) is equal to wave (C). So, this is called wave equality, where wave (A) = wave (C).
If the price has bullish sentiments, the ASTRAL will not directly jump to complete the impulsive wave 3, but it will create sub-waves of motive wave 3.
If traders are willing to initiate a long with low-risk setup, they can wait for a pullback of the previous move to reduce the length of stop-loss.
Please note that wave two can never overlap the starting point of wave one.
If the current move exceeds the low of 1769 , we can't consider this an impulsive wave.
Wave three can travel for 161.8% Fibonacci extension of wave one at 2047, and power extension can derive price to 2217 .
Traders can expect the following targets for the 3rd wave: 1976 - 2025 - 2144 - 2216.
Astral Chart Analysis !!📈 Astral 📉
My Findings :-
1. Breakout from Resistance Zone in and this zone is important because it was also acting as a support earlier.
2. Higher High and Higher Low Formation.
3. Close Above Feb, March 2022 High.
Bias- Long
Target- 2220, 2391 and 2489
SL- 1975
RR- 1: 2.5
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Astral buy above 2115Hello guys, last few days have been volatile so I was not giving many trades, seeing the market it is now better to take the trades on support rather than on breakout as most of them are failing.
Astral retraced 78.6% from last swing high.
Sitting above flip level
Near Demand/Supply conversion zone
Bounced from 200 MA cluster
Immediate resistance at 2095 - 2110
Buy above 2115
Targets mentioned in the chart above
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Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
ASTRAL PRICE ACTION ANALYSIS.Astral broke the 2085 level with huge volumes and now trying the pullback test. If it manages to sustain above this level, go long.
Book your profits near the supply zone or trail them for upper targets. If the all-time is broken, then aim for the 2500 mark.
Stoploss level and target levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
SELF EXPLANATORY SERIES : QUICK ANALYSIS ON ASTRAL.In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
Simple Trade Setup | ASTRAL | 27-09-2021 [INTRADAY]NSE:ASTRAL
Observations:
1) On Weekly time frame, range of 1900 to 1950 is acting as a good support now.
Please refer below chart : weekly time frame.
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Trade Setup for Date 27-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.