OGDC PROBABLY IN WAVE ' B ' OR ' C ' - LONG

Jul 16

This is in continuation to our ongoing tracking of OGDC wave structure.

If our wave count is correct then prices will take support from the 220-210 levels and will target the upside level of 255 and 275. Our wave count suggest that prices might even go above 300+ but that depends on how strong the bullish move is, if the move stays strong then price will target the upper yellow trendline.

Alternately, if price goes below the 202 level, it will take price well below 174.

We will buy 25% positions at 220-210 levels (ideally 218-216) and 75% at the break above 231.56

Trade Setup:

Entry level: 217 & 231.56

Stop loss: 202

Targets:
T1: 255
T2: 275
T3: Yellow trendline

Let see how this plays, Good Luck!

Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.

Jul 21

Note

Orders are in place, let see if we can get price of 217 today

Jul 23

Note

Price has started to rise, we will enter long position at break above 231.55

Jul 31

Trade active

Entry level: 231.56

Stop loss: 202

Targets:
T1: 250-260
T2: 275
T3: Yellow trendline

Aug 1

Note

T1 reached, closed 50% of the positions at 255

Next target is T2: 275

Aug 4

Note

Do not forget to place your orders early

Aug 8

Note

Make sure to place your orders early in the day

Aug 8

Trade closed: target reached

2nd target achieved, all remaining positions closed at 275.

Overall performance -

Entry price: 231.56

Exit price: 255 (50%) & 275 (50%)

Profit @ share: 33.44

Gross profit: 14.44%