Timeframe: Daily
NSE GILLETTE has formed an impulsive pattern after reaching a low of 7411.6. Price occurred wave (3) at 11500, and started forming wave (4). The market is currently in a correction pattern called an ABC Zigzag. Waves (a) and (b) are already done, and Wave (c) is moving down toward a key support area between 9,999 (38.2% retracement) and 9,534 (50% retracement). This area also aligns with a strong horizontal support level near 9,810, making it an important level to watch for a possible bounce.
If Wave (4) finds support at the demand zone, the price could start a new upward move in Wave (5), aiming for fresh highs above the last peak, possibly reaching around 11,800, depending on where Wave (4) ends. Traders can initiate a long for the following targets: 10,300 – 10,900 – 11,750+. The bullish outlook will remain intact as long as the price holds above the Wave (1) low at 9,020.
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I have same expectations, Thank you.
Please give your view on ABFRL stock?
great going 👏 Please provide daily analysis.