Mr.Guru (s)

Mr.Guru(s) is a team of stock market certified technical and research analysts with over 20 years of experience. They are regular guests on popular online channels and contribute articles to several financial publications. Their insights and advice are respected by investors worldwide. With their collective knowledge and expertise, they have a proven track record of successfully predicting market movements and identifying profitable opportunities.

Join Today (Free): Stock & Nifty Tips

NSE ABFRL – Motive Cycle Begins

2 42769

Free nse abfrl chart calls

Timeframe: Daily

NSE ABFRL has been forming into the corrective formation for more than 15 weeks. This manner of the price is corrective because it is falling steeply into the channel.

As per the rule of the channel, the corrective wave respects the channel because they don’t have the power to break out from the parallel lines. The impulse breaks the channel, whereas the correction forms within it.

Currently, the price has accomplished wave 5 of wave (C) at 240, and the price started lifting near the upper band of the regression channel. This breakout can be a holy grail for bulls to reach near wave (B). Safe traders can wait for the retracement to ride the impulse.

Continue reading