GRSE Garden Rich moves prediction for next couple of days
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Defence PSU Garden Reach Shipbuilders & Engineers Limited(GRSE) on June 22 signed an agreement with German firm Carsten Rehder Schiffsmakler and Reederei GmbH & Co KG for the construction and delivery of four multi-purpose vessels of 7,500 DWT each, with an option of building another four ships in the near future.
As part of the order worth $54 million, Garden Reach Shipbuilders will be designing, building, and delivering the vessels after completion within a time period of 33 months.
After reading the news I have a glance on this script and here is my analysis:-
The stock is in correction phase of Elliot wave where it has completed wave A already with pattern 12345. Now wave B to be made which must have ABC pattern and ideally it must not break high of wave 2 of corrective phase wave A that is around 1800.
Stock might open gap and then move up, then some correction and then another up move up to 1800 in the form of ABC, on Monday itself or in couple of days.
** On smaller time frame A and C must follow 12345 pattern and B must have ABC pattern.
Then if stops there following Elliott WAVE from there it must start making corrective phase wave C with 12345 pattern and must go below recent low of 1632.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
As part of the order worth $54 million, Garden Reach Shipbuilders will be designing, building, and delivering the vessels after completion within a time period of 33 months.
After reading the news I have a glance on this script and here is my analysis:-
The stock is in correction phase of Elliot wave where it has completed wave A already with pattern 12345. Now wave B to be made which must have ABC pattern and ideally it must not break high of wave 2 of corrective phase wave A that is around 1800.
Stock might open gap and then move up, then some correction and then another up move up to 1800 in the form of ABC, on Monday itself or in couple of days.
** On smaller time frame A and C must follow 12345 pattern and B must have ABC pattern.
Then if stops there following Elliott WAVE from there it must start making corrective phase wave C with 12345 pattern and must go below recent low of 1632.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
Commento
Bang on : I can't show smaller time frame but this morning move up to day high 1820 happened exactly in the ABC pattern where A was having 12345 formation starting from 1632 then wave C with zig zag pattern and wave C again 12345 shape. As I predicted high will be around 1800 it was 1820 and from there the last leg 5 of correction phase wave C has also started in the form of 12345 and it is supposed to go below 1632 to complete properly.
** Please note yesterday I make a mistake where I said high of wave A is around 1800 which was wrong it started from LTH 1904 and hence going up to 1820 was perfectly fine.
Trade chiuso: obiettivo raggiunto
As the target was reached as predicted yesterday so closing the trade.
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