HAL - End of short term correction? 1000 pts rally on the cards?

3시간 전

HAL - CMP 4048
TF: 90 minutes


Looks like the first leg of correction (A) is almost done in a 5 wave structure.

Internal counts are marked

Diagonal is visible at the end of this sideways correction/consolidation

Price is still holding the June 4th lows.

Looking at the sideways correction on weekly TF (see below), looks like the price cant fall one way down, and hence a retracement is expected. You will also notice that price is at the DEMAND zone on weekly TF



For this B wave (until or otherwise it breaks a specific Fib/invalidation level, the count remains corrective, and hence, it is considered as corrective rise B), the minimum expectation is 50-61% retracement of this entire fall. That would be 4800-5000 levels.

We will decide the next course of action depends on how well the price reacts at that zone.

For now, fresh shorts are not advisable and a low risk LONG Set up could emerge soon


I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.