LALPATHLAB - End of 4th wave correction?

14 lis

LALPATHLAB - CMP 2957

Price had a one way rally in it's primary 3rd wave from 1945 to 3650

And it is falling at the same speed.

Price convincingly broke the consolidation at the 30% fib around 3000 levels and trading below the same.

50% retracement is at 2800 and AVWAP from the lows is at 2840

2750-2850 is the breakout retest zone.

Between the next 100-200 points, there could be a good buying opportunity for positional investors (Not advisable for FNO)

Price SHOULD NOT BREAK 2767 at any cost as the set up would become invalid (4th wave cant get in to the territory of wave 1)

25 lis

Zlecenie aktywne

Price is bouncing from the fib levels between 0.38 and 0.5 of the rise from 2nd and 3rd. Since this is just a one way downmove, and the nature being 4th, some sideways consolidation is expected or and ABC or a triangle ABCDE kind, before commencing the 5th wave move on the upside. So, it is going to be a patience game..



Investors need not worry as long as 2767 is intact..

Traders, better to take trades at the extremes...

The current pullback could extend up to 3300-400.. instead of pushing for 200 points on the upside, one may wait for the price to hit the higher end targets and watch for reversal signal to go short

6 dni temu

Transakcja zamknięta: osiągnięto wyznaczony cel

Looks like the price would make one more low between 2800-2700.. Since this is the 5th wave, we never know where will it end.. better to wait and watch for reversal at the previous resistance/breakout zone of 2700 levels