CSAP - Hourly Analysis - 03-03-2024

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Bullish Double Three in wave "iv".

Expectations: The rise from the low of blue wave "iv" was very expected. We have achieved our target and the desired Fibonacci extension level. Since the price looks too optimistic, sooner or later the consolidation phase may start. To confirm the top is in place we may require a decline in five waves.

NOTE:  All the targets are achieved. Made a total of Approx Rs.46 in two trades.

Recommendation: 7: Targets achieved.
6: Sell all the holding at 54 positively.
5: Wait for the pullback to ride again.
4: Move the stops to 34 and Set the targets at 50.
2: Hold the longs.
1: Long positions may be considered from 25.5 to 23.5 with stops below 20.5. Keep the targets open for now.

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