KREBSBIO : Trendline Breakout and Golden Opportunities Await!🚀 KREBS BIOCHEMICALS: !
Overview:
The 1-hour chart for KREBS BIOCHEMICALS & IND. reveals key price action levels, Elliott Wave patterns (b, (B), (C) ), and potential future movements. A breakout above trendline resistance signals bullish possibilities. 📈
Key Levels and Zones:
Wave Analysis:
Corrective wave structure identified as b, (B), and (C) .
Price is taking support from its Wave C (extended) completion zone: ₹87–₹89 . 📉
Golden Retracement Zone:
Trading within the crucial Golden Retracement Zone: ₹85–₹101 .
This area serves as a support zone where price consolidation may occur before a significant move. 🟢
Breakout and Trend Line:
Breakout above trend line resistance confirms potential for upward momentum.
Positive breakout suggests continuation of bullish sentiment. 📈
Targets and Stop Loss:
First Target: ₹119 🎯
Second Target: ₹134–₹139 🎯
Stop Loss: ₹84 (Day Close) 🛑
Volume Analysis:
Volume activity indicates significant buying pressure during breakout. 📊
📈 Trading Plan:
Entry:
Enter a long position within the Wave C (extended) completion zone: ₹87–₹89 , as the price shows support in this range.
Targets:
First Target: ₹119 🎯
Second Target: ₹134–₹139 🎯
Stop Loss:
Place a stop loss at ₹84 to limit risk if the price fails to sustain above the Golden Retracement Zone. 🛑
Short-term Trading Opportunity:
These target zones offer ideal setups for short-term swing trades or futures and options (FN) strategies. The trendline breakout strengthens the bullish bias.
Conclusion:
This trading plan leverages the trendline breakout, Elliott Wave analysis, and volume trends to provide actionable insights. Monitor the Golden Retracement Zone for signs of continued strength.
Disclaimer: This analysis is for educational purposes only. Conduct your own research or consult a financial advisor before trading.
