"This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.
THIS TRADE/BET IS MY PROMISE TO SELF FOR NOT EXITING TILL THE 60% PROFIT TARGET LEVEL IS MET OR HIGHER LOW IS BREACHED ON EOD CLOSING...
Mishra Dhatu Nigam Ltd. closes at resistance level with good volume whereas
Technical indicators are bullish
If price closes above 236 level next resistance is 266 and support is 50 day sma(212) on daily chart.
We Have Spotted an Full Five Wave Structure From The Low in August till The Highs
We Have Also Checked The Wave Internals, Ratio Relationships, The Labeling Meets all The Rules and Guidelines of Elliott Waves,
All The Waves are as Expected Based on Wave Personality, Wave 5th was an Extension, Therefore the Ensuing Correction Was Sharp (Just as Expected), Now if we...
Buy on deep, 30% @ CMP 228
next 30% on 209
last 40% on 192
Target of 252-282
Keep SL 178, for next 4-6 months
Note: Analysis for education purpose only.
Please do your analysis before actual transactions. We will not be responsible for any profit / loss on actual transaction
