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PRL - Intraday Analysis - 23-08-2024

  • Sarfaraz Ahmad

Primary Structure: Potential Bearish Zigzag.

Primary Trend:  Bearish

Current Wave Structure:  Potential Zigzag in Black Wave "B".

Expectations:   The drop from the high of blue wave "A' can be counted in five waves as a leading diagonal in black wave "A". The rise from the low can be considered as part of the pullback in black wave "B". Since it is wave "B" any corrective structure may unfold in it.

Recommendation: 2: Target Hit.
1: Long positions must be protected with stops below 21 for a target of 25.5.

Previously :

Previously :

Previously :