iCharts Discussions

[ketangosar]

Hi SW,

Pls confirm WW in renuka?

Ketan

[ashutoshbpl]

Hi, sorry for unsolicited advice, but as per me its not an wolf wave as your wave 3 has already overshot the channel and no overshot in wave 5 which is basic requirement. Further make your wave 2 as 1 (184.75 on 8th Feb) so this gives us current overshoting 5th wave(just a projection. confirmation will be below 183 lvls)

Alternatively u can still play long as its rising from oversold level for a gap target of 191. real breakout will be above 192 if held as closing basis.

Regards
Ashu

[swaroopbn]

Ketanji,

The explanation provided by Ashu is correct.

To me Renuka is in SELL mode until it moves above the TL (please refer the attched chart). Until it moves above the TL - chances are open for Renuka to fall till 155-160.

Rgds,
Sw

[ketangosar]

thanks ashutoshbpl / swaroopbn