DVL: On the Brink of a Wave C Reversal – A Potential OpportunityCurrent Price: ₹396.80 (-1.86%)
DVL has completed a 5-wave motive structure and entered a corrective phase (ABC wave correction). It is currently approaching the Extended Wave C Zone near ₹350 - ₹369, which acts as a strong demand zone and potential reversal area. If prices sustain within this zone, we may witness a rebound.
Key Levels:
Buy Zone 1: ₹369 - ₹380
Buy Zone 2: ₹350 - ₹360 (Extended Wave C support)
Stop Loss: ₹326 (on a daily close below the Extended Wave C)
Target 1: ₹434
Target 2: ₹470 - ₹473
Key Observations:
Retracement ABC: Extended Wave C indicates a completion of correction.
Trendline Analysis: Price could bounce back toward previous highs if the demand zone is respected.
Risk Management: Use a stop-loss strategy for a controlled risk-reward ratio.
Disclaimer:
This analysis is for educational purposes only and is not financial advice. I am not a SEBI-registered analyst. Please do your own research or consult a financial advisor before making any investment decisions .
