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CEPB - Intraday Analysis - 16-08-2024

  • Sarfaraz Ahmad

Primary Structure: Potential Zigzag.

Primary Trend: Bearish

Current Wave Structure:  Potential Ending Diagonal.

Expectations: The pullback blue wave "ii" is prolonged which is a healthy exercise in terms of wave price structure. It looks like the price is unfolding final waves of this correction. Weakness in the price is expected. We may test 24 which can provide long opportunities.

Recommendation:  Wait for the pullback.

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