TRADE SETUP_WAVE V IN ABBOT_15-20% MOVE
Updated
Abbott India Ltd. is seen coming out of a fourth wave triangle and is expected to have completed wave i of V.
The stock had remained in a 3month long correction during the fourth wave between Aug and Nov.
The stock is currently close to the support area of 23000 and is expected to settle and reverse from around here.
The final projected target for fifth wave completion comes in at around 27.5K-29K zone.
Note*-The views expressed are personal observations/opinions. Kindly do your own analysis before taking up any trading positions.
The stock had remained in a 3month long correction during the fourth wave between Aug and Nov.
The stock is currently close to the support area of 23000 and is expected to settle and reverse from around here.
The final projected target for fifth wave completion comes in at around 27.5K-29K zone.
Note*-The views expressed are personal observations/opinions. Kindly do your own analysis before taking up any trading positions.
Note
Stock attempting reversal from crucial 23000 level. Managed to pull itself back above 23000 intraday todayNote
strong volume on hourly chartNote
a classic reversal from 23000
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