AMARAJABAT is testing the 55EMA resistance, if it breaks, we could see a good third wave of a long term elliot wave.
Having reached 50% of the minor wave already and bounced upwards, its unlikely that we see a downtrend, but in case of downtrend, the best entry would be at 582-604 range, which are 65%-61.8% fib retracement levels.
Current Setup: ----------------- Entry - 740 (modest) Exit - 1344 SL - 715 (1% below current 55EMA), 705 (2% below)
Disclaimer: This is not financial advice, please do your own research before making any trading decisions.
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