Timeframe: Daily
After hitting a low of 202.8, NSE JIOFIN has formed an impulsive cycle. Wave ((2)) has not retraced more than 100% of Wave ((1)). Sub-Wave (3) is a powerful extended wave, reaching 261.8% of the Fibonacci extension of Wave (1). The price has completed Wave (4) at 307, marking an exact 50% retracement of Wave (3).
The impulsive structure is expected to resume following a breakout above the corrective slope. However, if the price encounters strong resistance at the upper channel, there is also a possibility of a triangle formation on the daily timeframe chart. The 337 level will pose a significant challenge for the bulls to overcome.
According to the alternative chart, the price has completed Wave D at 337.95 and has begun forming Wave E. If the price doesn’t break below the low of Wave C, Wave E could alternatively be interpreted as a 1-2 wave formation. If price breaks out 338, traders can trade for the following targets: 360 – 383 – 405+. A breakdown of Wave A at 307 will require a reassessment of the entire wave structure.
We will update further information soon.
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Do you provide any training about this?
I don’t know how u count waves, but your charts are rocking.
I prefer your charts and newsletters for trading and it’s really helpful.thanks
the accuracy of your reports are uncanny….the results speak for themselves
Solid wave Analysis, thanks.
Quality Post!
now can we expect a bull run ?