CEPB - Intraday Analysis - 04-11-2023

Sarfaraz Ahmad
Nov 04, 2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Bullish Impulsive

Expectations: The rise from the low of blue wave "5" can be counted in five minor waves followed by a deeper correction in red wave "(ii)". The rise from its low is aggressive and can be assumed as a wave of the third wave. A strong rally is expected after a minor correction.

Recommendation: 2: Hold the longs and add more on pullback.
1: Long positions may be considered from 24.5 to 25 with stops below 22.5. Keep the targets open for now.

Previously :