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GTYR - Hourly Analysis - 01-12-2023

  • Sarfaraz Ahmad

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure:  Correction in blue wave "iv".

Expectations:  The rise from the low of blue wave "ii" can be counted in five bullish waves as blue wave "iii". The pullback minimum in three waves may be expected to unfold in blue wave "iv". The ideal support level for this blue wave "iv" comes around the upper line of the base channel where the 38.2% Fibonacci retracement level coincides. 

NOTE: We have achieved our initial targets.
Made Rs. 15.5 Profit so far.

Recommendation:  4: Set the stops at 28 for any holdings and wait for the pullback to ride again.
3: Move the stop to 28 positively and set the target at 38.
2: Hold the longs.
1: Long positions may be considered around 23 to 22.5 with stops below 19. Keep the target open for now.

Previously :

Previously :


Previously :