JIOFIN - End of Wave 4 - Ready for new ATH

23 thg 11

JIOFIN - End of Wave 4 - Ready for new ATH

It appears that JIOFIN has completed it's 4th wave down at 300, which happens to be the 50% retracement of the impulse from 2nd to 3rd wave.

The corrective wave ABC seems to have ended now and the internals of the entire move is also marked

It is a low risk set up (5% risk if SL is placed at 300) and the reward would be 50% or more (if it plays out the 5th as projected)

- On technical, 250-300 is also happens to be the accumulation zone previously. Price move and volumes are highlighted.

Since this script will be included in F&O, worth tracking it for the coming weeks

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.

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Price is moving on expected lines.. BUT dont be a BLIND BULL YET.

There is a overhead resistance (falling trendline from the top) at 350 levels... Wait for the breakout to confirm the trend reversal.



Also, there is an unfilled GAP at 320 levels..

Ideally, I would expect the price to make a double bottom structure (retest of the 2-4 trendline from Oct.23 lows before the next big impulse move on the upside..