Daily Chart
CESC following perfectly following channel and trendline. Some time simple tools If applied in a right manner can indicate the direction of the trend.
Trendline, Channel and RSI indicated the prevailing trend. Applying simple tools along with advanced like Elliot Wave counts both for short and long term will assist timing the entry and exit which in turn will provide favorable risk/reward setups.
Raju V Angadi
Equity Research Analyst
To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory
& Psychological traits to trade with some common sense & optimize
your investment / trading decisions contact on:
rvangadi@googlemail.com (OR) +91 78291 55900
Daily Chart
- After making a high of 825 in September Calcutta Electrical (CESC) has been trading ina down trending channel.
- The stock now is near channel resistance of the upper end on daily charts as shown above trying to breakout.
- On weekly charts stock has completed its Wave 3 of primary degree near 827, which is also 361.8% of Wave 1 and now in Wave 4 of corrective move in a zig-zag pattern.
- The completion Wave 4 can trigger start of Wave 5 on the upside.
Raju V Angadi
Equity Research Analyst
To Learn simplified objective approach applying basic concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense to optimize your investment and trading decisions contact on:
rvangadi@googlemail.com (OR) +91 78291 55900
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