Timeframe: Daily
The NSE MSUMI has been experiencing a corrective phase for over 27 weeks, with a notable low of 45.15 before commencing a new impulsive cycle. The current trading range of NSE MSUMI is between the 50 and 20 Daily exponential moving averages.
Presently, the price has completed the extension of impulsive wave 3 at 51.5 and has entered a corrective wave 4, which is taking the form of a triangle pattern. The retracement of wave 4 has hit the common 38.2% level.
If the price surpasses wave D, Traders can initiate trades for targets of 51.50 – 52.61 – 54.12+ . However, buyers must keep a close watch on 49.5 as a break below it may result in a bearish sentiment, leading to 47.05.
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Accurate analysis 👌
Great Analysis
Keep up the good work! 🚀
very good explain sir thanks for valuable information
👏👏👏 Great analysis and insights! Your explanation of the hourly chart setup for Msumi is very clear and easy to understand.
I have same expectations, Thank you.
Sir
Elliott’s wave count on stocks from time to time.is well appreciated. I have a query about the time frame. You usually make a study in 2 hr. time frame. Is any significant about this 2 hr.
Many people do it in 15 minutes.
I just want to know the ideal time frame for the wave count.
Is it possible to give an analysis on candlesticks also side by side?