Buy above 320 TGT 430/650/900 sl below 220The stock is looking to come out of the consolidation after a long time with the volume at breakout point as well as support levels. EMA and other indicators are also indicating the same
Cromptontrading
Amazing Reward against the Risk for Crompton Greaves
Price has completed an Upward 5 Wave Sequence structure (Wave 1) and a 3 Wave downward Correction structure (Wave 2), now we have the Wave 3 coming up which is the Wave to surf!!!
We see that Wave 2 has retraced Wave 1 by 61.180% and that is the rule for retracement of Wave 2 as per the Elliott Wave Theory.
Wave 3 as per Fibonacci Extension levels achieves 161.80% of Wave 1.
After reacting to the 6 Months Demand in the left side Price has closed above the EMA confirming Buying Pressure and we also have a Demand formed in Monthly which is our Trade Demand for the Target of Rs. 878.45 that's a Reward of 21.44 against the Risk of Rs. 26.80.
This is the Buy Trade with defined Risk .
CROMPTON ready for UPSWING#CROMPTON is hovering at important level and is at accumulation stage. Getting ready for the up move.
Crompton - Elliott Wave CountCrompton - Elliott Wave Count
Crompton seems to have completed its correction and started a new upward impulse wave with a target of 350. However, if the market drops below 270, this view is invalid.
Please note that this information is solely for educational purposes, and it is essential to exercise caution when trading.
NSE:CROMPTON NSE:CROMPTON1! BSE:CGCL1! BSE:CROMPTON
CROMPTON : Near weekly support CROMPTON is near weekly support. May be good for swing trading with small support.
I will wait next week candle to see prices action & pressure of bulls & Bear. Good to keep eye on it.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
First Learn and then remove "L"
