ENGRO - Intraday Analysis - 11-08-2023

Sarfaraz Ahmad
Aug 11, 2023

Primary Structure: Bearish Impulsive

Primary Trend: Bearish

Current Wave structure: Zigzag in wave (ii)

Expectations: The expected pullback in three waves from the low of red wave (i) is now unfolding its final moves. The price can approach to 78.6% Fibonacci retracement level where the upper line of the rising channel and previous swing high meet.

Recommendation: Take the profit of the Longs and wait for short confirmation.

Previously :