KREBSBIO : Trendline Breakout and Golden Opportunities Await!

2 days ago

🚀 KREBS BIOCHEMICALS: !

Overview:
The 1-hour chart for KREBS BIOCHEMICALS & IND. reveals key price action levels, Elliott Wave patterns (b, (B), (C)), and potential future movements. A breakout above trendline resistance signals bullish possibilities. 📈

1. Key Levels and Zones:

1. Wave Analysis:
   
   Corrective wave structure identified as b, (B), and (C).
   Price is taking support from its Wave C (extended) completion zone: ₹87–₹89. 📉
   
2. Golden Retracement Zone:
   
   Trading within the crucial Golden Retracement Zone: ₹85–₹101.
   This area serves as a support zone where price consolidation may occur before a significant move. 🟢
   
3. Breakout and Trend Line:
   
   Breakout above trend line resistance confirms potential for upward momentum.
   Positive breakout suggests continuation of bullish sentiment. 📈
   
4. Targets and Stop Loss:First Target: ₹119 🎯
   Second Target: ₹134–₹139 🎯
   Stop Loss: ₹84 (Day Close) 🛑
   
5. Volume Analysis:
   
   Volume activity indicates significant buying pressure during breakout. 📊
   

📈 Trading Plan:

Entry:

Enter a long position within the Wave C (extended) completion zone: ₹87–₹89, as the price shows support in this range.
Targets:

First Target: ₹119 🎯
Second Target: ₹134–₹139 🎯
Stop Loss:

Place a stop loss at ₹84 to limit risk if the price fails to sustain above the Golden Retracement Zone. 🛑
Short-term Trading Opportunity:

These target zones offer ideal setups for short-term swing trades or futures and options (FN) strategies. The trendline breakout strengthens the bullish bias.
Conclusion:
This trading plan leverages the trendline breakout, Elliott Wave analysis, and volume trends to provide actionable insights. Monitor the Golden Retracement Zone for signs of continued strength.

Disclaimer: This analysis is for educational purposes only. Conduct your own research or consult a financial advisor before trading.