Timeframe: 4h
NSE APLLTD has formed a corrective ABC pattern, with prices trading below the 20/50/100/200 EMA band. The price has touched the lower band of the parallel channel.
APLLTD completed wave (C) at 823.4 and has begun forming an impulsive cycle. While there is a risk of misjudgment, the current low price presents an opportunity. The price has formed sub-waves 1 and 2 of the new cycle. If the price sustains above 915, traders can aim for the following targets: 940 – 975 – 1005+. The invalidation point would be the low of sub-wave 2.
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Very good analysis sirji
What’s your view on Nifty 50 and Finnify?