CEPB - Intraday Analysis - 01-12-2023

Sarfaraz Ahmad
Dec 01, 2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Potential red wave "(v)".

Expectations: The rise from the low of blue wave "5" can be expected to unfold in five waves. The current consolidation in red wave "(iv)' appeared as a triangle and sustained well above the upper line of the base channel. The price may test 40 where the red wave "(v)" equates to the price length of red wave "(i)".

Recommendation: 3: Stops must be moved to 29 and set the target at 37 positively.
2: Hold the longs and add more on the pullback.
1: Long positions may be considered from 24.5 to 25 with stops below 22.5. Keep the targets open for now.

Previously :