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AHCL - Intraday Analysis - 31-08-2023

  • Sarfaraz Ahmad

Primary Structure:  Bullish Corrective Structure

Primary Trend:  Bullish

Current Wave structure: Bullish Impulsive

Expectations:  The rise from the low is significant and can be considered the first wave of the impulse structure. More gains are expected after the current correction in red wave (ii) which may test the 61.8% Fibonacci retracement level.

Recommendation:  1: Long positions may be considered from 26.5 to 25.5 with stops below 22.7 for the target at 36.