AUBANK - Contraction pattern below a very good support trendline
🔰 MY thought process :
⭐Elliot waves for the uptrend ended while giving it an ATH now it has broken a serious trendline = downtrend but it's on its monthly support zones which were used to be resistance zones :)
⭐Also at 0.3 fibo so and making a good contraction pattern below the good uptrend line and 50dema, A buy would be initiated if it breaks the consolidation with power :)
⭐Risk will be: if it breaks the trendline for below = SL, Targets : at least ATM
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :)
Also keeping an eye on JSW steel too seems bullish to me :), All the analysis already posted :)
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
<<<<<<Thank You Have a Nice Trading Day>>>>>>
⭐Elliot waves for the uptrend ended while giving it an ATH now it has broken a serious trendline = downtrend but it's on its monthly support zones which were used to be resistance zones :)
⭐Also at 0.3 fibo so and making a good contraction pattern below the good uptrend line and 50dema, A buy would be initiated if it breaks the consolidation with power :)
⭐Risk will be: if it breaks the trendline for below = SL, Targets : at least ATM
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :)
Also keeping an eye on JSW steel too seems bullish to me :), All the analysis already posted :)
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
<<<<<<Thank You Have a Nice Trading Day>>>>>>
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