REMSONSIND : Ready for a Reversal? 1. Remsons Industries Ltd (REMSONSIND)
Technical Analysis
The chart follows a five-wave Elliott Wave structure with the correction (Wave 5) completed, signaling a potential reversal.
Golden Retracement Zone: ₹150–₹155
This zone aligns with Fibonacci retracement levels and acts as a critical support where price typically reverses sharply.
Deep Retracement Zone: ₹140–₹150
If the price fails to hold the golden retracement, this extended zone becomes the last line of support .
First Target Zone: ₹194
Marks the initial upside target, aligning with the Wave 4 top (prior resistance).
Second Target Zone: ₹215
A breakout above the first target can lead prices toward this secondary resistance.
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
