We can see a strong breakout on monthly basis in "Apollo Hospitals". The current monthly candle is undergoing a retracement to test the level of breakout. If the breakout is genuine, after retracement, there will be signs of bullish reversal. This indicates that the current trend is about to continue and for that I've used the ABCD pattern of Harmonics to find the next target of the current impulse wave. For entry with a good Risk-to-Reward Ratio, we need to switch to a lower timeframe and look for that "Bullish Reversal Pattern".
Kommentera:
Risky traders can accumulate (Wait for the monthly candle close) as as there is a formation of Hammer at the recent support level. Keep SL below the hammer for the additional quantity.