1) V Shape recovery in progress
2) Respecting trendline support and testing it after every 14/15 days interval
with a wig bounce. One can play around with such intervals as well for a shorter
period of time on an hourly basis.
3) Strong Resistance and consolidation occurring at 50 percent Fibo Retracement level.In my view
likely to be broken sooner or later because of HH and HL formation, Entry
is recommended only at CMP with the stop loss value where trendline support
will be broken or a bit lower than this to avoid stop loss hunting.
4) with patience, TP seems to touch 50 to 51k, and then retracement would occur.
2) Respecting trendline support and testing it after every 14/15 days interval
with a wig bounce. One can play around with such intervals as well for a shorter
period of time on an hourly basis.
3) Strong Resistance and consolidation occurring at 50 percent Fibo Retracement level.In my view
likely to be broken sooner or later because of HH and HL formation, Entry
is recommended only at CMP with the stop loss value where trendline support
will be broken or a bit lower than this to avoid stop loss hunting.
4) with patience, TP seems to touch 50 to 51k, and then retracement would occur.