High Probability trade In Ashokley Land.
Recommended To Go Long With the stop loss of 30-32 for the Targets of 60-65 for swing trade.
(For long term targets are above 100)
(I personally also advice to stay invested in this stock for solid returns and for the levels of 200-225, this stock can be labeled as diamond in the dust).
Recommend reading Further,
- Currently prices has formed a Expanding triangle this is the pattern which reflects the psychology of market participants who are un-certaint about the future, many bear market before bottoming out shows this pattern, currently prices are at the lower side of the triangle, indicating a bullish bounce back on the upside.
Elliott wave Patterns:
Ashokley land has progressed in an orderly fashion, thus we see a progression within the channel, We have spotted that ashokley land has completed the 5 wave pattern, in which wave 3 was extended and aggressive, we saw the irregular top of wave 3 because wave to was merely a simple correction thus wave four was complex (rule of alteration), after we've seen the 5th wave top forming precisely at the upper channel limit, and what's cool is 5th wave even has it's own 5 fives inside of it. Further we see the corrective wave "a" has had it's 5 waves which leads us to believe it has completed followed by b wave, now we see prices bounce back off exactly for 0.5 fibonacci trend extension of wave a and b not only that prices bounced from the lower channel limit of both the triangle and the channel, so which leads us to believe the third corrective wave i.e wave c has completed (moreover we also see a bullish candle reversal pattern, which help confirm this claim).
Why am i going much in detail? Because we have 4 to 5 different analytical techniques which are in total agreement.
we are expecting a bullish move so one can invest for long term and also trade.
their is alot to write about it but this information is enough, I don't wanna make a dramatic call for bottom but technical analysis says so, but you be wise and use stop loss.
(if any question feel free to message me)