Ideal strategy will be to open short in ladder buy manner or on conformation of rejection from the blue zone.
targets are mentioned in green, stop loss just above the previous high.
all the best and do share your opinion in comments section.
if it fails to hold the blue line then i would like to see it test 676 range before any potential bounce.
do hit like and share your opinion in the comments section.
I WOULD BE KEEN ON SELLING GAIL AFTER THE REJECTION FOR THE TARGETS MARKED IN GREEN.WILL UPDATE THE CHART ONCE IT HITS THE SECOND TARGET.
DO HIT LIKE AND SHARE YOUR OPINION IN THE COMMENT SECTION.
YOU CAN FIND MY TELEGRAM CHANNEL IN THE PROFILE.
I would like it to hold above the zone marked in blue if it wants to hits the targets in green.
A retracement after breakout to retest the support is a healthy bullish sign for sustained growth.
I WOULD LIKE TO SEE SOME RETRACTMENT TO TEST THE CLOUD SUPPORT ATLEAST ONCE BEFORE IT MAKES ANY MAJOR BULLISH MOVE.
OTHERWISE IT IS IN BULLISH TREND AND DID A PERFECT FIB RETRACTMENT AFTER INITAL MOVE AND NOW IS IN ITS NEXT LEG UP.
IF YOU WANT TO DO AN OPTION TRADE THEN OPEN A CE ON TEST OF CLOUD SUPPORT.
IF YOU NEED ANY HELP THEN JOIN MY TELEGRAM GROUP MENTIONED...
Pc jeweller is holding on to .382 fib level with .5 passing thru the gap, that's somewhat like ideal text book retracement.
from here if it holds the support at .382 then I expect it to test .5 and .618 fib levels.
stop loss should be comfortably below .382 to avoid any random wick.
do hit like and share your opinion about the expected price action.
ASHOKLEY IS AT CRUCIAL RESISTANCE LEVEL AND I FEEL THAT IDEALLY IT WILL RETEST THE ZONE MARKED IN BLUE LINE BEFORE IT BREAKS THRU THE RESISTANCE, ONCE BROKEN 114 WILL ACT AS CRUCIAL SUPPORT FOR IT TO TEST HIGHER TARGETS.
DO JOIN OUR TELEGRAM CHANNEL MENTIONED IN PROFILE.
POSSIBLE RETEST OF ZONE MARKED IN BLUE WILL BE A GOOD BUY OPPORTUNITY.
TARGETS ARE MARKED IN GREEN.
OPTION TRADERS SHOULD BUY CE AT THE RETEST OF BLUE LINE.
WAIT FOR THE BREAKOUT OF RISING WEDGE .
MANY BROKRAGE HOUSE HAVE GIVEN POSITIONAL BUY CALL AND THIS BREAKOUT WILL GIVE US A GOOD OPPORTUNITY TO BUY IT ONCE WE WILL BOOK THE PROFIT ON SHORT.
DISCLAIMER:
The Legal stuff - I'm not financial adviser and all the charts posted are for paper trading .
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