triangle pattern breakout.
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Elliott Wave Analysis:-
View 1:- swing trade,
A triangle has formed in the 4th wave Correction wave and it seems to be ready to give an impulse breakout. if it so then the target will be
Target 1:- 4800
T2:- 5150
T3:-6100
Stop loss:-3291
if the pattern had broken up and crossed the 4610 then the stop may be adjusted to 3485.
View 2:-
there may be an alternative view which the triangle may breakout in bottom and it may also go till 2500-2900. we can average at bottom. if long term investor can also think of choosing second view else only 1st view is advisable.
i'm not a SEBI advisor. kindly consider your own analysis before taking the trade or consult your own financial advisor.
View 1:- swing trade,
A triangle has formed in the 4th wave Correction wave and it seems to be ready to give an impulse breakout. if it so then the target will be
Target 1:- 4800
T2:- 5150
T3:-6100
Stop loss:-3291
if the pattern had broken up and crossed the 4610 then the stop may be adjusted to 3485.
View 2:-
there may be an alternative view which the triangle may breakout in bottom and it may also go till 2500-2900. we can average at bottom. if long term investor can also think of choosing second view else only 1st view is advisable.
i'm not a SEBI advisor. kindly consider your own analysis before taking the trade or consult your own financial advisor.
Note
previous chart link was given below
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