KRBL
CMP 369
Yesteday it gave 5% jump with double than average volumes and daily MACD turned to buy.
We re-assesed the stock based on EW prespective.
It made a pin -bar last week and that too after 50% retracement of wave 1. Many stocks tend to complete their corrections at these levels too.
If it maintains its momentum , then we can assume that wave 3 has started.
Immediate resistance is 371 – 40 DEMA .
Medium term resistances and further confirmations can be the red-lines -levels – 410-415 and 445 levels. Once it crosses and starts closing above these levels, then we can assume that , it is in wave 3rd. And it can corss 700 levels in that case.
Weekly Chart
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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