What I see in BEL

6월 19일

TF: 144 Minutes

For almost a month (from 23rd May to 20th June), the price has been trading within a 20 points range..

The Divergence is very much visible at the TOP

The sideways move suggests corrective phase, but Time correction and not price correction (YET).

Ideally, the price should retrace to 350 (38% minimum) to complete the 4th wave.. If this is going to be a full of time correction, then expect another 2-3 weeks of price move within the same range.

On Daily charts too, we are approaching the final 5th Top (according to my counts copied below).. Hence, I am not going aggressively long on this counter

Daily chart with counts




Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.

6월 25일

액티브 트레이드

Price spiked up 430 in an unprecedented move.. but that was an icing on the cake..

June expiry they will try to settle at 400.. but if this breakdown works out as anticipated, we could see 360-350 in July series..

7월 23일

노트

400-410 is the tough zone to crack on the upside now..Maybe for this expiry they are managing it for 400 odd levels.. Should see correction in August series..