FORCE MOTORS - ALL TIME HIGH AGAIN ?

WHATTTTTTTT....???
HELL YES..
A big OPPORTUNITY in FORCE MOTORS LTD🚀🚀

We saw that this stock was in correction mode since it made an all time high of ₹ 10,100
BUT NOW, it is giving the reversal sign by giving a breakout of downward sloping trendline with good intensity of volume.
* As per ELLIOT WAVES the stock is getting ready to move all time high to unfold the WAVE 5th
* Stock can be a buy on dip till it touches all time high with the same stoploss mentioned in trading plan at the last with expected targets.

Technical view- a simple understanding for beginners

* The stock has given a breakout with good intensity of volume.
* The price changed its structure from lower low to higher high
* Stock price is challenging Upper Bollinger Band in Daily Time Frame
* RSI ( a strength indicator) is above 60 in Daily Time Frame which indicates strong momentum
* All the momentum indicators such as MACD, DMI etc., are giving positive signals.

For those who are new to WAVES, let's Understand the basics of Waves 📈

Key Elliott Wave Principles:
1. Five-Wave Impulse Pattern: The primary trend unfolds in five waves (1-2-3-4-5). Waves 1, 3, and 5 move in the direction of the trend, while waves 2 and 4 are corrective.
2. Three-Wave Corrective Pattern: After a five-wave sequence, a correction typically follows, consisting of three waves (A-B-C) that move against the primary trend.
3. Wave Relationships: Fibonacci ratios play a crucial role in Elliott Wave analysis, often governing the length of the waves.
4. Wave Characteristics: Each wave has its own set of characteristics. For example, Wave 3 is usually the most powerful, showing the strongest price movement, while Wave 5 may signal the final push before a significant correction.

TRADE PLAN
* one can add at current levels and again if it comes down you will get an opportunity to add more till 6500
* Targets - 8000/9000/9500/10000/ All time high
(note- Targets may also react as resistance / hurdle)
* Stop Loss - 6160
* Invest keeping in mind for short to long term view, not for speculation.
* Always invest only after calculating the financial risk with the given stop loss and then decide your quantity.

Thank You
KARANN DINGRA 💰🚀