JLICL - Hourly Analysis - 24-12-2023

Sarfaraz Ahmad
Dec 24, 2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Bullish Impulsive

Expectations: We have witnessed five bullish h waves in black 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 expected in black wave "2". This pullback can test the 61.8% Fibonacci retracement level. A strong rally is expected from the low of black wave "2".

Recommendations: Wait for the pullback.

JLICL - Hourly Analysis - 24-12-2023

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