Alankit:₹22.60 support ₹18 res:₹30

Alankit:₹22.60 is broken it triple bottom support.
This is to show the charting technic to find probable supports in future,
First drawing a line with the Two latest peaks (blue) getting a maximum slope, and make a parallel channel to it, will definitely find a support in coming days.

Same way we can draw more further supports by meeting to recent bottoms and draw the line,
then a future resistance line projecting a parallel line to that, as shown in green here.
This is not merely a study material, but a live technical analysis , as Alankit is showing improvement in numbers , the growth in sales , everything must reflect in price sooner that later.

So watch keenly in this small cap ugly duckling and see what is happening.
Comment: Wlose to its support.
watch 18.25
Comment: must watch this, a strong reversal from the support
Comment: support 17.40
Comment: Both way the targets achieved.
Comment: Break out, will take the stock to 42 level first
Comment: once more
Comment: Ready for net jump
Comment: true
Comment: This update is based on a request for a late entry
A pole & flag pattern is in completion, if true the stock can give another 15 points from the break out level. Promoter’s holdings are increased to a good 68% from 24% earlier, but fundamentals are yet to be developed in to strong one.

Now coming to learning: This is an old posting, and my idea was to pick from the bottom and we have friends in this forum made good return they entering at 18 level. I was expecting an easy move towards 30. So my target is already reached. Further I said in my update that, it can move to 42 level. That is a major resistance now.

Hope that you have invested on some new expectation or what is your idea in investing in this stock. Do you see any better perspective in this company /sector? They are in other financial services like broking, trading, insurance etc. And showing a nice growth in sales and profit is a good thing. A company required time to generate wealth, then only its vale reflects in to the stock price. Alankit has to make a tremendous change in fundamental to break above 42, otherwise, with the current data, It doesn’t have the capacity to jump to higher level soon.
Comment: As we expected, a good result and some good news like business expansion to the gulf region,two New RBI licenses – P2P and FFMC etc... give a boost beyond the expected level.Now it is time to take caution, as the signals pose tired with slight divergence. I am expecting a turn57- 59 area
Comment: A Dark Cloud Cover
Trade closed manually: Exit
(A caution was given earlier at the internal 4th wave near 60 price level. but i never expected the 5th to have huge jump. )

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