Better stock fundamental strong bye Bad News is down but is marked
Bull run chanse to up side minimum 10% Bye stock
RRKABEL trade ideas
RRKABEL: Unlocking Potential with Key Fibonacci Levels!Technical Observations:
Pattern Identified: The stock appears to have completed an extended Corrective C Wave in a larger Elliott Wave framework. The price has retraced to a critical 127% Fibonacci retracement level around ₹1,427 - ₹1,420.
Price Action: Recent candles show a rejection from the extended retracement zone, indicating buying interest and possible demand resurgence.
Buy Zone: ₹1,420 to ₹1,462 (C wave bottom and retracement levels).
Targets:
First Target: ₹1,652 - ₹1,629 (Prior resistance and 50% Fibonacci retracement of the corrective wave).
Second Target: ₹1,862 - ₹1,921 (Upper range derived from Fibonacci extension and historical supply area).
Stop Loss: Below ₹1,371 (To manage risk in case the retracement zone fails).
Learning Points:
Elliott Wave Principle: The corrective C wave typically marks the end of a bearish cycle and the start of a bullish phase when aligned with key Fibonacci levels.
Demand Zone Confirmation: The 127% Fibonacci level often acts as a deep retracement point where demand overtakes supply.
Low-Risk Opportunity: Buying near the C wave lows offers a favorable risk-to-reward ratio, supported by a defined stop loss.
Reason for Action:
Rejection at Key Levels: The bounce from the retracement zone confirms strong demand.
Upside Targets: The targets are aligned with prior resistance and Fibonacci projections, indicating a potential breakout and trend continuation.
$RRKABLEhaving a look for a long term hold ..
come deviate below white line then we run it back
been in this range for a year so nearing time for its next leg up
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