NSE Alert: JYOTICNC Set to Skyrocket!

NSE JYOTICNC Gearing Up for a Major Breakout

JYOTICNC has recently broken above its 50 EMA and is now trading above the 100 EMA. The ADX has dropped to 16.44, indicating a weakening trend, while the ATR is at 65.05, reflecting the volatility. The stock experienced a dramatic impulsive wave ((3)), peaking at 1449.95, followed by a corrective wave (4) with a 38.2% retracement of wave ((3)) down to 1037.1.

Currently, the stock appears to be starting an upward move, which shows a weak angle, suggesting the construction of sub-waves of wave ((5)). Traders may consider waiting for a pullback into the value area (yellow zone) to improve the risk-reward ratio. Fibonacci extension and reverse Fibonacci analysis project the following targets for wave ((5)): 1370 – 1580 – 1750+. The price could accelerate after breaking out above wave B.

The invalidation level for this setup lies a few points below wave ((4)). A breakdown below wave ((4)) could lead the price down to 920.5, as the correction may occur near wave 2 of a smaller degree if wave ((5)) is extended.

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