Please post your comments and let me know what you think
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We are possibly seeing wave 3 at 161% end and start of wave 4. This should go up and test 191 level.
Giao dịch đang hoạt động
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We can short this around 190 area with stoploss around 193.
Giao dịch được đóng thủ công
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Our stop had been hit.
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This was a good trade even though trade had to be closed. The most likely culprit is institutional buying of stock. Stock had been rising quite fast and has now corrected just as fast right after making a high of 194.75 and taking out our stoploss at 192. ONGC has corrected 2.7% in the last trading session. More selling would be on the counter if it takes out the 178 mark.
@sakesh1858, Thanks for pointing it out. Let me look into it.
inderjeet05
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@sakesh1858, This idea is still valid if you do not consider wave 2 intermediate. For this idea to work i was trying to bring to your attention wave 1 which is behind the finger pointed up(on date 2/13).
Instead of intermediate wave it should be a correction ABC pattern which i will update soon.