Zeel Is Sitting On The Ticking Bomb!
Did you read the previous report of MCX Gold? If not, click the below link to read it.
- Is zeel preparing for a bull run?
Zeel has concluded a corrective structure and started an impulsive wave. The price is about to cross the recent high...
ZEEL is forming 3rd impulsive wave. Wave 2 has taken a reversal from a 61.8% Fibonacci ratio.
If zeel is forming wave 3, we should at least get a 161.8% extension of wave 1.
Invalidation: Wave 2 can never overlap the starting point of the wave.
Zee Entertainment - Daily
4th wave has broken into 5th wave
Currently it seems to be in the 3rd of 5th as per the Elliott wave count
Bollinger band is challenged on the upside
RSI is above 60 and ADX is above 15
According to the post triangle thrust (PTT), the target is around 408
Price action looks good on the weekly and monthly timeframes too
Resisting 325-330 Area for too long now
Not breaching previous lows any more
A break and pull back near the same area (330-332 can be a good opportunity to buy
As of now strong support remains below 315
Risk to Reward can become excellent if traded accordingly
ZEEL might breakout from consolidation range!
Buy above 336 for targets of 375
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together .
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
I hope you can now see how ZEEL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
Get Ready for a Roller Coaster Day.
Just like we had stated in the earlier week, we did witness that the Market has been consolidating between the levels of 17700-17900.
In addition to which, however, the index managed to give a closing of above 17700, on the last trading day. Which, altogether was a good sign for the Market and its...