Looking at the chart from a distance, my view is that 720-10 could be revisited. But please do remember that 730 approx is a double bottom too previously and that Mr Market is a ‘Class A’ bluff master and sometimes we call the bluff, sometimes we have to eat our views. Thats how it is.
Of course, I could be wrong, as I have been, many times. Mr. Market
Here is the chart, self explanatory (click here or on the image to enlarge)
Previously had a view which didn’t work out all the way though. Here it is.
Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.
Looking at the lower timeframe, a falling wedge has been broken on the upside and a Bullish Wolfe Wave almost to trigger.
Reliance is my pick for November and Diwali. Lets see how dangerous this Wolfe turns out to be ….
Again, on the higher TF, we had broken out on the weekly and now retesting the breakout. A superb RR to go long on support/retest of breakout. Since this is weekly, buy in cash with some drawdown filter for stops (
Here is the chart for the weekly.
Lets see whether this Diwali, does Motabhai’s fortune change and Lakshmi enters the world of the shareholders who have been holding this scrip since last few years with conviction.
Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only