ALICON (Alicon Castalloy Ltd.)
Key Levels:
Lower Band of Retracement Zone: ₹1,018 - ₹1,076
Target Zone: ₹1,399 - ₹1,438
Stop Loss: Below ₹1,018
Structure & Trend:
Completed 5-wave Elliott structure with a sharp retracement into the golden ratio zone.
The lower retracement zone around ₹1,018-₹1,076 is a high-probability demand zone for a potential reversal.
Trade Plan:
Entry: Between ₹1,050 - ₹1,080 (retracement zone).
Targets:
First target: ₹1,250
Final target: ₹1,399 - ₹1,438.
Stop Loss: ₹1,018 on a daily close basis.
Note: If prices fail to hold the ₹1,018 level, it might trigger a bearish extension.
Key Levels:
Lower Band of Retracement Zone: ₹1,018 - ₹1,076
Target Zone: ₹1,399 - ₹1,438
Stop Loss: Below ₹1,018
Structure & Trend:
Completed 5-wave Elliott structure with a sharp retracement into the golden ratio zone.
The lower retracement zone around ₹1,018-₹1,076 is a high-probability demand zone for a potential reversal.
Trade Plan:
Entry: Between ₹1,050 - ₹1,080 (retracement zone).
Targets:
First target: ₹1,250
Final target: ₹1,399 - ₹1,438.
Stop Loss: ₹1,018 on a daily close basis.
Note: If prices fail to hold the ₹1,018 level, it might trigger a bearish extension.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.