JLICL - Hourly Analysis - 14-12-2024

Primary Structure:   Bullish Impulsive

Primary Trend:  Bullish

Current Wave Structure: Potential Zigzag in Red Wave "(2)".

Expectations: We have witnessed five bullish waves in red wave "(1)" which can be assumed as the first evidence of major trend reversal.  According to the basic rules, a pullback minimum of three waves may be witnessed in red wave "(2)". This pullback approached the 61.8% Fibonacci retracement level. The rise from its low is very agressive and can be expected to unfold in five waves.
NOTE: Only wave degree is changed.
Made a profit of Rs.73.
Since our target is met, we are removing this stock from the HOT PICKS.

Recommendations: 4: Target Met.
3: Take the profit at 193.
2: Hold the longs.
1: Long positions may be considered from 120 to 100 with stops below 85. Targets will be communicated with time.

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