PTC India in Wave IV of 3Date: 23.12.24 (Post has been hidden so reposting)
Symbol: PTC
Timeframe: Daily
PTC India has been a tough script so far. Here is my another attempt to read its chart. Seems like Wave IV of 3 has extended but it is quite oversold on the RSI. I have marked two levels below today’s price. Ideally, it should not breach those. Rest is on the chart.
This is not a prediction but a possible wave count. This is also not a recommendation to trade or invest. Please do your own analysis.
Ptcindiapricetrendanalysis
PTC India - Trend reversalPTC India Financia had taken a reversal from its triangle bottom, so give an entry with appropriate Stop loss after the breakout from the zone
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
PTC INDIA- A Potential Compounder in Making1.Reciprocal Bullish ABCD formation almost complete near the weekly support S1
2.Reversal to be impulsed back to the Median line of the pitchfork according to Price Magnet Theory
3.Several levels including weekly resistances and Fibonacci levels of BCD 0.73% , taking D point in the weekly support S1 , has been taken in correspondence to the pitchfork
4. Bullish Reverse Divergence on RSI oscillator validates the upmove projection
Disclaimer... Invested and averaging down... this is not a time dependent analysis
Not an investing/trading recommendation..