POLICYBZR - Bull Case vs Bear Case (Correction)
Bull Case:
1. Rounding Bottom Breakout is in progress, pattern target is 2500+
2, Price is making HH/HH. Hasn't been impacted much during the market correction
3. Made a strong base at around 1500-1700 and have been moving up strongly. Dips are being bought
Bear Case:
Price is getting rejected at the 1.618% fib extension of the IPO base range.
Usually such rejections at 1.618% fib extension level, pulls back the price to breakout point. Here is an example of similar set up on LICI chart
Wave 3 seems to be completed on larger tf and a pullback is due. But no confirmation yet. Price is still making HH/HL structure, and this view is pre-emptive only.
On Short term, price consolidated around 50DEMA and gave a strong breakout. A retest to 50 DEMA cant be ruled out
I am not a SEBI registered Analyst. 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.
1. Rounding Bottom Breakout is in progress, pattern target is 2500+
2, Price is making HH/HH. Hasn't been impacted much during the market correction
3. Made a strong base at around 1500-1700 and have been moving up strongly. Dips are being bought
Bear Case:
Price is getting rejected at the 1.618% fib extension of the IPO base range.
Usually such rejections at 1.618% fib extension level, pulls back the price to breakout point. Here is an example of similar set up on LICI chart
Wave 3 seems to be completed on larger tf and a pullback is due. But no confirmation yet. Price is still making HH/HL structure, and this view is pre-emptive only.
On Short term, price consolidated around 50DEMA and gave a strong breakout. A retest to 50 DEMA cant be ruled out
I am not a SEBI registered Analyst. 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.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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