AKDSL LONG TRADE ON 1WPreviously AKDSL completed Elliot Waves 1-2-3-4-5 of uptrend on 1W TF, then it retraced and completed its corrective waves A-B-C to the Golden Fib ratio.
It started new uptrend since Jul 2024. It completed Wave 1 and 2 which coincidentally taken the form of Inverted Head and Shoulders Pattern. This also constitutes the beginning of Wave 3 of Uptrend
It has broken out of H&S Bullish formation and formed an IFDZ which is a very safe place to enter a long trade.
While chart patterns alone are not always reliable without confirmation, in this case, the Volume Distribution and Price Action which previously displayed a spike, support the breakout, indicating genuine buying interest by institutions behind the move.
TECHNICAL BUY/INVESTMENT CALL 1W –AKDSL
BUY1: 27.24
BUY2: 26.50
BUY3: 25.5
TP1 : Rs. 29.80
TP2 : Rs. 33.20
TP3 : Rs. 37.2
STOP LOSS: BELOW Rs. 23.2(Daily Close)
RISK-REWARD: 1:5.4
Caution: Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
