NIFTY_OIL_AND_GAS - Short term bullish view? Check the alt view

5 thg 1

Talk of the town now is the OIL & Gas Sector..

My counts and probable path are highlighted the chart.

primary view is that price could move up to 11500-700 levels in wave 4 and face resistance there..

Possible Reasons/Rationale are

Cloud Top
200 DEMA
50% retracement of the fall from 2nd wave
Trendline resistance from the top

Chart:

Alternative view is that,

Price could form a triangle here and moves sideways (in which case, the price wont move beyond 11400)




I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.

13 thg 1

Giao dịch đang hoạt động

Triangle it is for the 4th wave.. We might go down by another 700-1000 points on this OIL & GAS Index.. But never trust the 5th wave.. trade cautiously.. It is better to wait for this move to play out..