FCCL - Intraday Analysis - 31-08-2023

Sarfaraz Ahmad
Aug 31, 2023

Primary Structure: Bearish Impulsive

Primary Trend: Bearish

Current Wave structure: Leading diagonal.

Expectations: The drop from the high of blue wave "ii" is overlapping but can be counted in five waves followed by an expanding flat in red wave "(ii)". We are now unfolding the third wave and have successfully broken the base channel down, so more weakness is anticipated.

Recommendation: 3: Set the targets at 10.

2: Move your stops to 12.27.

1: Shorts may be considered from 12.6 with stops above 13.2. Keep the targets open for now.

Previously :