REMSONSIND : Ready for a Reversal?

לפני 6 ימים

1. Remsons Industries Ltd (REMSONSIND)

1. Technical Analysis
   The chart follows a five-wave Elliott Wave structure with the correction (Wave 5) completed, signaling a potential reversal.
   
   
   1. Golden Retracement Zone: ₹150–₹155
      
      This zone aligns with Fibonacci retracement levels and acts as a critical support where price typically reverses sharply.
      
   2. Deep Retracement Zone: ₹140–₹150
      
      If the price fails to hold the golden retracement, this extended zone becomes the last line of support.
      
   3. First Target Zone: ₹194
      
      Marks the initial upside target, aligning with the Wave 4 top (prior resistance).
      
   4. Second Target Zone: ₹215
      
      A breakout above the first target can lead prices toward this secondary resistance.
      
   5. Stop Loss: ₹140–₹141
      
      Place below the deep retracement zone to manage risk. If prices drop below, the setup is invalidated.
      
   Educational Tips:
   
   Buy Strategy: Enter near ₹150–₹155 with confirmation (e.g., bullish engulfing). Add cautiously near ₹140–₹150.
   Stop Loss: Below ₹140 to protect capital.
   Target Levels:First Target: ₹194
   Second Target: ₹215