CEPB - Intraday Analysis - 18-11-2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Bullish Impulsive

Expectations: The rise from the low of blue wave "5" can be expected to unfold in five waves. We have completed the third wave of this bull cycle. The current consolidation in red wave "(iv)' may find support above the upper line of the base channel where the ideal 38.2% Fibonacci retracement level also meets. The price may test 37 after completing the current consolidation in red wave "(iv)".

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.

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