AMBER Enterprises (AMBER): Wave 5 Setup in Progress
Wave Analysis:
The stock is currently in the Wave 4 corrective zone between 5,762 - 5,667 INR, a key support area.
A potential liquidity sweep below 5,667 INR could attract strong buying interest.
Target zones for Wave 5 completion are 6,976 - 7,127 INR.
Key Observations:
Wave Structure: Completion of Waves 1, 2, and 3; Wave 4 is nearing a reversal zone.
Liquidity Sweep Potential: A dip below 5,667 INR might collect stop-loss liquidity before reversing.
Trading Plan:
Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before trading.
Wave Analysis:
The stock is currently in the Wave 4 corrective zone between 5,762 - 5,667 INR, a key support area.
A potential liquidity sweep below 5,667 INR could attract strong buying interest.
Target zones for Wave 5 completion are 6,976 - 7,127 INR.
Key Observations:
Wave Structure: Completion of Waves 1, 2, and 3; Wave 4 is nearing a reversal zone.
Liquidity Sweep Potential: A dip below 5,667 INR might collect stop-loss liquidity before reversing.
Trading Plan:
- Entry:
Look for entry near 5,762 - 5,667 INR upon confirmation of reversal (e.g., bullish candle with volume).
Monitor behavior if prices dip below 5,667 INR and recover sharply. - Stop-Loss: Place stop-loss below 5,060 INR (invalidates Wave 4).
- Target Levels:
First target: 6,500 INR (partial profit booking).
Final target: 7,000+ INR (completion of Wave 5). - Indicators to Monitor:
RSI for oversold conditions at entry zones.
Volume confirmation during reversal.
Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before trading.
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.