Research Report – NSE GUJALKALI, TECHM & SONATSOFTW

NSE GUJALKALI – Critical Level at 617

As per our previous article, GUJALKALI was forming a corrective structure, where wave B of wave (Y) occurred at 617, and the price was preparing for wave C of wave (Y) of wave ((B)).

Visit here: NSE GUJALKALI – Correction Signals Wave C

It appears that the price has completed wave C of wave (Y) at 548.10. The ATR of the price is 13.62, while the ADX is 18.48, suggesting that the trend strength remains weak and the market may continue to consolidate unless a breakout occurs.

The price has broken out of the parallel channel and is currently facing strong resistance at 617. According to the Elliott Wave Principle, a trend reversal is only confirmed after a breakout above wave B of the corrective formation. If the price sustains above 617, traders can look for potential targets at 655 – 696 – 793+.

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NSE TECHM – Bulls Eyeing Breakout Above 1485

NSE TECHM has formed a corrective A-B-C formation on the daily time frame chart. The ATR is 30.94, while the ADX stands at 20.8. 

Wave A has traveled 100% of the distance of Wave C, and now an impulsive formation is likely to take place. The level of 1519 is crucial for a trend reversal. If the price sustains above 1485, traders can look for the following targets: 1512 – 1535 – 1562+. Free subscribers can take previous day’s low as invalidation level.

We will update further information for premium members soon.

NSE SONATSOFTW – Premium Setup