A trader might try to do a swing trading to capitalise on either direction but investors should refrain from such stocks unless monthly reversal confirmations are witnessed.
It is very difficult to time the market as there is a high likelihood to lose out from a winning position. To understand the crucial turning junctures it is best to apply Elliott wave for price projection and the time the turn using time cycles.
In the below chart, we have shown the application of Time cycles along with wave theory and how it can help by identifying important turning areas:
The best part is wave counts completion and the cycle coincided together. Prices also came close towards the lower end of the downward sloping channel and bounced back higher.
This, in turn, suggests that the panic low made in India Bulls Housing Finance might remain protected for weeks and the stock might start seeing positive traction.
FOR MORE UPDATES CONTACT US @ RIPPLES ADVISORY OR 9644405057
No comments:
Post a Comment