HUL Short setup (Elliott Wave Analysis)

The move up from 1628 level looks like a corrective W-X-Y correction which suggests that we are seeing an upmove for the retest of the yellow trendline, after the retest if we see a reversal near the same then that would be an ideal shorting opportunity which can take this market down to the levels of 1600 or lower, more precise targets can be predicted once the reversal has taken place.

Kommentera:

HUL : 15 min. : Picture perfect, went to test the Trendline and reversed, only sideways possibility here remaining here is that we may have W.B Triangle continuation, hence Bearish with possibility of some sideways movement :