CMP 3497
Resistances: 3840/4024.85(Historical High of Grasim)
Supports: 3324/3300/3218.
Any side break can be a big move.
Possible Scenario:
I expect to see down move as long as 3840 resists. Because, it has reversed exactly from 76.4 level of previous down move.
But break of that, I expect to big up move and next resistance at 4025.
MA 89 resists as of now. And all my MAs(89,144,233) are above the price.
If I count this down move from 4025 as ABC, I expect to see 3120 (C=A).
As per this wave count,
one can go for sell
at CMP 3496
or between 3550-3710
with Max SL 3850.
Resistances: 3840/4024.85(Historical High of Grasim)
Supports: 3324/3300/3218.
Any side break can be a big move.
Possible Scenario:
I expect to see down move as long as 3840 resists. Because, it has reversed exactly from 76.4 level of previous down move.
But break of that, I expect to big up move and next resistance at 4025.
MA 89 resists as of now. And all my MAs(89,144,233) are above the price.
If I count this down move from 4025 as ABC, I expect to see 3120 (C=A).
As per this wave count,
one can go for sell
at CMP 3496
or between 3550-3710
with Max SL 3850.
