CMP: 1653
TF: Daily
On the daily TF, it looks to have completed the 4th wave and moving up (3rd of 5th)
Price is trading well above the falling AVWAP from the top
Price is trading inside the cloud, breakout confirmation above 1700
Price made a strong base at 1580-1600 and now trying to breakout from the consolidation
The only concern is that, the fall from 2240 levels was one way (single leg) down move. But the silver lining is that it spent enough time at 1300-1600 zones, and retraced more than 50% for the 4th move.
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. 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.
TF: Daily
On the daily TF, it looks to have completed the 4th wave and moving up (3rd of 5th)
Price is trading well above the falling AVWAP from the top
Price is trading inside the cloud, breakout confirmation above 1700
Price made a strong base at 1580-1600 and now trying to breakout from the consolidation
The only concern is that, the fall from 2240 levels was one way (single leg) down move. But the silver lining is that it spent enough time at 1300-1600 zones, and retraced more than 50% for the 4th move.
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. 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.
Trade active
Price consolidated for a longer period of time and broke out on the upside. 1800 so far..
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.