BOKL moved in 5 wave fashion from its lowest price Rs 250 dated August 8 2018. From the lowest price of Rs 250 Bank of Kathmandu #BOKL moved towards Rs 350 dated September 25 2018. Topped at Rs 350, Bank of kathmandu #BOKL made a retracement of 50% towards Rs 298 dated December 9 2018. The correction from Rs 350 to Rs 298 is in 3 waves.
Bottomed at Rs 298 Bank of Kathmandu #BOKL moved towards Rs 345 in 5 waves whic h can be wave (1) of III). If Bank of kathmandu get support above Rs 298 and moves up then we could a see a bullish rally.
Investment Idea
- Buy on deep above Rs 298 For Rs 450
- Invalidation of wave count: Below Rs 298
#BOKL Bank of kathmandu daily chart.
Not bad! but wave (5) of (I) seems kind of odd, as looks corrective rather than impulsive. What do you think?
ReplyDeleteOli sir its a micro wave.
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