PIOC - Hourly Analysis - 08-03-2024

Sarfaraz Ahmad
Mar 08, 2024

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Potential Pullback in Blue wave "(2)".

Expectations: The rise from the low of back wave "b" can be counted in five subwaves distinctively now. Such impulse structures are perceived as trend reversal confirmation. As per rules, a pullback minimum of three waves may be required before further rise. The upcoming pullback may consume comparatively more time, therefore holdings are suggested to sell from the current levels.

Recommendation: Wait for the pullback.

PIOC - Hourly Analysis - 08-03-2024

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