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REMSONS INDUSTRIES LTD
Long

REMSONSIND : Ready for a Reversal?

By LiveTradingBox
1. Remsons Industries Ltd (REMSONSIND)

  1. Technical Analysis
    The chart follows a five-wave Elliott Wave structure with the correction (Wave 5) completed, signaling a potential reversal.

    1. Golden Retracement Zone: ₹150–₹155

      This zone aligns with Fibonacci retracement levels and acts as a critical support where price typically reverses sharply.
    2. Deep Retracement Zone: ₹140–₹150

      If the price fails to hold the golden retracement, this extended zone becomes the last line of support.
    3. First Target Zone: ₹194

      Marks the initial upside target, aligning with the Wave 4 top (prior resistance).
    4. Second Target Zone: ₹215

      A breakout above the first target can lead prices toward this secondary resistance.
    5. Stop Loss: ₹140–₹141

      Place below the deep retracement zone to manage risk. If prices drop below, the setup is invalidated.
    Educational Tips:

    Buy Strategy: Enter near ₹150–₹155 with confirmation (e.g., bullish engulfing). Add cautiously near ₹140–₹150.
    Stop Loss: Below ₹140 to protect capital.
    Target Levels:First Target: ₹194
    Second Target: ₹215
Chart PatternsTrend AnalysisWave Analysis
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