what a base formation through wyckoff reaccumulation

disclaimer... not an investing or trading recommendation

the target is preliminary one..


capsule91 rupambose32
@rupambose32, yes rupam, i discarded the search for PS, that is not a prelimenary support, as there is no volume surge on that... i ma rather taking this as a reacc schematics, and the pres upport which is skeptically mention is just a slow down of the selling pressure of the automatic reaction... i consider the drop more as a automatic reaction than a mark down because of the lack of volumes and its location after the climactic stopping of the bclx..

all these dosent matter now, as there has been definite reduction of volatility post spring and a good change of character... although the quality of the character in the post spring rally dosent seem like the demand is fully back in action, so further tests should be conducted..

the target i mentioned is a preliminary one derived from point and figure chart., i believe, the target should be actually way higher...
rupambose32 capsule91
@capsule91, thanks
may be price can go to your projected area
i think this analysis not right,also possible i am wrong
Wow !!! Test case re accumulation pattern..
capsule91 AjithaPriya
@AjithaPriya, beautiful aint it..!
AjithaPriya capsule91
@capsule91, Yes for sure.Many stocks are following this pattern from last few weeks, You may want to see CRISIL,CARE, Shemaroo, Acrysil (back up action needed, went 2 fast 2 furious), PEL (Fundamentally great stock to own),CanFinHome, GIC Housing, Wonderla...
capsule91 AjithaPriya
@AjithaPriya,great picks....

i am tracking gic hf, i am yet to see the selling climax though... fundamentally, both the loan book and the asset quality has improved thoughout the last 4 quarters, hence i think this is a turnaround story to unfold...

Acrysil, i have a hunch this is a bull flag forming in the daily chart and further follow through is expected before a back up... meanwhile, in the lastest investor presentation, the management commentary is bullish , and projects similar growth in coming quarters too...
the capacity expansion theyh have done, should aid further growth, but historically i have seen the capex requires 9 to 12 months time before they get reflected in sale figures, this time , the dynamics are well paced, so we might end up catching some of the new capacity production in the quartz sink in this fiscal itself....
having said that, the subsidiary business is what i am concerned about, if they can ramp that up to previous margins they used to generate, the the rerating potential is going to be severe... waiting for the concall to get further info...

coming to PEL, the outlook both fundamentally and technically seems ot be impeccable, although PEL has to breakout of the

in the rating agency cases, i am going to wait , and i feel this is not the time the composite group can really launch the bull market campaign, when the macros have deteriorated, compared to what we had a couple of years back, with credit rate hike in the west, more money is expected to flow out of the emerging markets, and most importantly, i feel the capex cycle across industrial have not yet started the upturn, infact in q4 it seems the same has depressed a bit too.... gdp growth prjections are unspectacular and the bond market are not that buoyant with the bond yields on an uptrend....

having said that, pretty good accumulation schematics are under way, and care seems to be a fresh accumulation starting..
i particularly like how the schematics went in icra, although fundamentally, after selloff of the it business, the growth projection to become better visible is going to take some time
here is my take...

i would like to avoid taking any position on crisil, and care has a better alternative interms of impulse the stock generates

wonderla and shemaroo are in great spring positions too..

if u like wonderla, which is basically a sustained income which is inflation adjusted, u might be interested in nesco, a similar business theme, although the chart is in a mess right now, with more bias towards a distribution... something to be tracked for a later interest...

AjithaPriya capsule91
@capsule91, Thanks for the detailed charts and insightful explanation.....
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