StockVesters

Buy AMARAJABAT - Short term target upto 1000

Long
NSE:AMARAJABAT   AMARA RAJA BATTERI
Stock has reached the daily dz which is the origin of the price from where it has gone till 1000+ levels.. expecting same move again
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Comments

I don't think it will be easy for it to hit the level of 1000 even in the medium term. On every 50 points move (if that at all happens), it will face selling pressure. What according to you is the time frame?
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StockVesters parnamigirish
@parnamigirish, appreciate your view, but there are no good / fresh supply zone to stop the price till 870... price will halt there for some time.. after that the next quality sz with novice gap is at 960.. Regarding the timeline, no one in market can predict a proper time line. It can also happen that it starts going up 20% daily and reach 1000 in 4 days, or may be make 0.5% move and take 3 months
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parnamigirish StockVesters
@StockVesters, As per me, there is a supply zone at 800 to 815 level. Moreover, people have accumulated this stock at many levels after it went below 900. Don't you think, all those people will try to exit the script whenever their level comes which will automatically lead to the supply zone. You have mentioned short-term which I think should be 4 to 6 months at max. I don't see it touching 1000 in even 6 months from now.
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StockVesters parnamigirish
@parnamigirish, I feel the 800-815 sz is tested and will not have much pending orders left. Lets see how it performs
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parnamigirish StockVesters
@StockVesters, All the best. Anyway, I am too invested in this and would love to see it rock.
+1 Reply
parnamigirish parnamigirish
Moreover, I won't be surprised if it becomes another ITC.
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@parnamigirish i would heart broken 😂
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parnamigirish StockVesters
@StockVesters, Bro, on a daily chart of Amararaja, I see a Dragonfly Doji which seems to be the sign of a potential up move. Do you also agree?
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amalsamod05 parnamigirish
@parnamigirish, bro there is also bullish rsi divergence #for swing
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parnamigirish amalsamod05
@amalsamod05, Yeah, let's see when it takes off. I have also posted the analysis on my Twitter handle. @GirishParnami
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