ASTRAL : what is in pipeline next?

Technical Analysis of Astral Ltd. (ASTRAL) - Daily Chart

📊 Overview:
The daily chart of Astral Ltd. reveals a sideways trading pattern with prices consolidating within a defined range. Here's a breakdown of key technical levels and potential trade setups:

Key Levels and Zones:
🔹 Current Price: ₹1,711.00

Support and Buying Zones:

1. []First Buy Zone: ₹1,686 - ₹1,709
   []Second Buy Zone: ₹1,545 - ₹1,488
   

Target Zone:

1. Target Price Range: ₹2,083 - ₹2,140
   

Stop Loss:

1. Price: ₹1,440 (on the daily chart)
   

📉 Chart Analysis:

1. Wave Patterns: The chart identifies a series of wave patterns, including:
   
   Wave A: Marks the initial low point.
   Wave B: The subsequent high following Wave A.
   Wave C: Indicates a lower point after Wave B, completing a corrective wave pattern.
   
2. CHoCH (Change of Character): Marks a potential reversal or significant change in trend, indicated at critical levels.
   
   
3. Deep Retracement Zone: The area between ₹1,645.60 and ₹1,545.55 acts as a strong support level, highlighting a potential accumulation zone.
   
   
4. Volume Bars: High-volume bars at the chart's bottom indicate increased trading activity.
   
   
5. Projected Price Movements: Green trend lines show potential upward price movements and corrections, aligning with the wave structure.
   

📋 Trade Plan:

1. Entry Point:
   
   Enter a long position in the First Buy Zone (₹1,686 - ₹1,709).
   Alternatively, consider the Second Buy Zone (₹1,545 - ₹1,488) for a deeper retracement entry.
   
2. Target:
   
   Aim for the Target Zone (₹2,083 - ₹2,140).
   
3. Stop Loss:
   
   Place a stop loss at ₹1,440 to minimize risk.
   

Conclusion:
Astral Ltd.'s daily chart highlights crucial support and resistance levels, offering potential entry and exit points. Traders should carefully monitor price action within the defined zones to seize profitable trading opportunities with a favorable risk-reward ratio.

📢 Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct thorough research and consult a qualified financial advisor before making any investment decisions.

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