HERITGFOOD : Hungry for recovery

l’altro ieri

HERITGFOOD Analysis (20th Dec 2024)

The chart demonstrates a liquidity buildup, golden retracement zones, and corrective wave completion. Here’s a detailed breakdown for actionable trading.

Current Structure:

1. [] The price has retraced into a golden zone (467-488) and is showing signs of reversal.
   [] Buying at this level could target 614 as the first target and 685-715 as the extended range.
   
2. Stop-loss is placed below 420, indicating bearish continuation if breached.
   

Action Plan:

1. []Buying Opportunity: Consider entering near 467-488 (retracement zone), supported by wave C completion.
   []Targets: First profit zone at 614. Trail stop-loss to 500 and aim for 685-715 for extended gains.
   
2. Stop Loss: Place below 420 to avoid significant losses.
   

Risk-Reward Ratio: Entry around 480 with targets at 614 and 715 provides a favorable risk-reward ratio of nearly 1:3.

Key Educational Note:

Liquidity buildup indicates institutional activity. The corrective wave completion often aligns with major turning points in price.

Disclaimer: This analysis is for informational purposes. Consult with a SEBI-registered professional before trading. Support by liking and sharing!