Ashokley - Dont be deceived by inv H&S - Pullback is due
تم تحديثه
CMP: 231.79
TF: 90 minutes
First and foremost, my primary view is BULLISH on this counter (positional/investment) for a detailed view on the larger TF, read my analysis at
Key Highlights/Positives:
- Price successfully broke the swing high at 230.45 and negated the LH-LL structure.
So, any pullback is a buying opportunity with the SL of 214
- Price closed above all key moving averages on Daily TF
- On hourly you can spot Golden Crossover (50 EMA taking out 200 EMA) - very good bullish sign
- On Shorter TF, Inverted H&S formation is seen and the price is trading above the neckline.. Potential target is 250-260
- Price has broken and trading above the AVWAP from the TOP
Challenges/Negatives/reasons for Pullback:
- There is an unfilled GAP at 225 area
- On daily, price is trading inside the cloud. Could face resistance at 240
- From 264 to 202, the price was falling in a single leg.. No corrective structure seen/observed..
This marks a case for,
- Either a deeper pullback to form double bottom structure (Blue line marking zig zag from the top)
- Or a sideways move like 3 rise method (keeping the red trendline intact) and sharp bounce thereafter
Again, for investors, it is a hold and add on dips..
but for short term traders, it is a wait and watch game for now..
Always focus on LOW Risk Set ups..
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
TF: 90 minutes
First and foremost, my primary view is BULLISH on this counter (positional/investment) for a detailed view on the larger TF, read my analysis at
Key Highlights/Positives:
- Price successfully broke the swing high at 230.45 and negated the LH-LL structure.
So, any pullback is a buying opportunity with the SL of 214
- Price closed above all key moving averages on Daily TF
- On hourly you can spot Golden Crossover (50 EMA taking out 200 EMA) - very good bullish sign
- On Shorter TF, Inverted H&S formation is seen and the price is trading above the neckline.. Potential target is 250-260
- Price has broken and trading above the AVWAP from the TOP
Challenges/Negatives/reasons for Pullback:
- There is an unfilled GAP at 225 area
- On daily, price is trading inside the cloud. Could face resistance at 240
- From 264 to 202, the price was falling in a single leg.. No corrective structure seen/observed..
This marks a case for,
- Either a deeper pullback to form double bottom structure (Blue line marking zig zag from the top)
- Or a sideways move like 3 rise method (keeping the red trendline intact) and sharp bounce thereafter
Again, for investors, it is a hold and add on dips..
but for short term traders, it is a wait and watch game for now..
Always focus on LOW Risk Set ups..
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
تم فتح الصفقة
From 237 to 226.. thats how price works.. Entry is very important eventhough you have the best of projected views.. between 223-225, it could give a nice buying opportunity still.. Remember, if the three rise method to play out, then we will have one more round of selling after a few days of upmove..and then the most rewarding third wave to follow.. patience is key
أغلقت الصفقة: تم الوصول للهدف
225 was tested multiple times and bounced.
A daily close above 240 will propel a strong upmove.. Enough consolidation has been done on this counter 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
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.