CMP: 3067
TF: Daily
The current structure exhibits a leading diagonal from the lows and it could be Wave 1 of a new impulse or wave A of a corrective rise.
In either case, we are looking at one more high past the recent swing high at 3414.
Although we are looking at a 10% move on the upside, this move too will follow an ABC rise. Hence, be cautious if you are considering to trade through derivatives.
The invalidation level for this view is break of 2772
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
TF: Daily
The current structure exhibits a leading diagonal from the lows and it could be Wave 1 of a new impulse or wave A of a corrective rise.
In either case, we are looking at one more high past the recent swing high at 3414.
Although we are looking at a 10% move on the upside, this move too will follow an ABC rise. Hence, be cautious if you are considering to trade through derivatives.
The invalidation level for this view is break of 2772
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.