🛡️ Price: Around **85.85 INR** (currently) – Consider scaling in if it reaches the **"Retracement Zone for Wave B" of 82.26 INR.**
🎯 Target: **107-110 INR** (Target at Wave C)
🛑 Stop-Loss: **Daily close below 79.4 INR**
🤔 Why this trade?
✅ Approaching retracement zone – potential strong support.
✅ Potential for a good Risk/Reward.
✅ Wave pattern suggests an upcoming upswing.
💡 Pro Tip: The chart shows a clear downtrend followed by a retracement. If the price consolidates within the retracement zone and shows **bullish divergence** on indicators like **RSI** or **MACD**, it could signal a potential reversal. **Watch for a break above the short-term downtrend line** for additional confirmation before entering.
⚠️ Risk/Reward Calculation (Example - You MUST calculate your own based on YOUR entry):
Let's assume entry at **82.26 INR** (bottom of the retracement zone) and the defined stop-loss of **79.4 INR**:
🔹 **Potential Gain (using midpoint of target zone):** 108.5 - 82.26 = **26.24 INR**
🔹 **Potential Loss:** 82.26 - 79.4 = **2.86 INR**
🔹 **Risk/Reward Ratio:** **26.24 / 2.86 = Approximately 9.17:1**
🙏 Important:
🚨 This is just an idea, **not financial advice.**
⚠ **Trading has risks – you could lose money.**
🧐 **Do your own research before making any trades.**
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.