Study:- 7th July - Structure is very good.
PCR is neutral; OC is on bullish side; Consolidation was going on and today given break out with good vol and crossed 200 DEMA due to Short Covering rally. But a wick is observed at the top of today's candle. Need to wait till it gives BO over trend line. near to a resistance trend line. Need to wait till it closes above it. Once it closes above it it will move high. RSI has given BO and is bullish;
Probability is of a retracement first from the trend line and then moving higher. Now the Supply zone will act as resistance in future (if it gets a follow through.) Expecting an extended 5th wave.
Strategy would be accumulate as it comes down and hold it.
*This chart is only for educational purpose.
PCR is neutral; OC is on bullish side; Consolidation was going on and today given break out with good vol and crossed 200 DEMA due to Short Covering rally. But a wick is observed at the top of today's candle. Need to wait till it gives BO over trend line. near to a resistance trend line. Need to wait till it closes above it. Once it closes above it it will move high. RSI has given BO and is bullish;
Probability is of a retracement first from the trend line and then moving higher. Now the Supply zone will act as resistance in future (if it gets a follow through.) Expecting an extended 5th wave.
Strategy would be accumulate as it comes down and hold it.
*This chart is only for educational purpose.