IBulHsg: Expecting Relief Rally

May 20, 2018

Stock has been in a strong one way downtrend. Currently near a support zone of 1125-1130.
This zone is quite important. There is 1:1 harmonic completion in this zone. Also 38.2% retracement of its bull move from 600 to 1450 falls in this zone.
I am not expecting complete reversal, due to enormous strength in the current downmove, but a relief rally that could take the stock to 1175 or 1200 levels.
We can materialize from this rally with at least a conservative position.
A signal on the hourly chart would be enough to take position.

Regards

May 21, 2018

Note

No good signal on the hourly. Negative market beat weak stocks.

May 30, 2018

Note

Hope you too made money on this one. Both targets hit by the way.