LT Food-Not at all a Bad food for the Bear market..!

NSE:DAAWAT Pitchfork Play + Kumo cloud support + expected formation bull Gartley/Bat + Support from the weekly pivot and ML pitchfork+ projectile to outer ML of Pitchfork/0.618XA of the harmonic in formation/R1 resistance by traditional system...

Also note the 200MA (daily)(this is a weekly chart so using 40 as data to match the same) is moving to intercept our bounce levels where it is expected to support the price action for the oncoming projectile throw..

Disclaimer... Invested with occasional trading... This is not a time bound analysis.... This is not an investment /trading advice..
Brilliant ! So safely add at 71.50 or further downside ? 68/69 Support should hold?
sandipan.mch rubixqube
@rubixqube, yes, u are absolutely correct, 68 around is the support which should hold... there is the 200day wider moving average at that level.... but my use of technical charts have changed a lot after i learnt about wyckoff methods.. this price action is fresh out of a distribution, where the ownership of the sock changes from operators and the smart money to the weaker retail hands... so post distribution it remains volatile till they start accumulating again...

I will wait and would like to see signs of accumulation happening before taking positions...
having said that, i am very bullish on the fundamentals....
rubixqube sandipan.mch
@sandipan.mch, Thanks buddy! Love you insight. My best guess for the carnage inspite of decent results is some fund or big investor decided to exit. Will watch your post for entry.
rubixqube rubixqube
@rubixqube, 67.50 !!! WOW ! Now what? wait ? Has it bottomed out or further down? I dont understand why such a huge fall. Any thoughts?
sandipan.mch rubixqube
@rubixqube, ok.. so i looked in the charts again deeper... the correctin can be really decent u know.. to 50, which would be the 618 fibo level... and other important moving averages...

there was a great wave 3, which went up to the 3.618 level of the wave 1...
now if u wanna get in, you will be trading the wave 5 here.. which might truncate and might not cross the all the time... at present the wave 4 correction is going on... io lost track of the fundamentals after i sold at the 90s..
if there is something promising happening in the fundas thn u can think of getting in... how is the marketing of dawaat in the europe market going?

i would rather invest in scrips which are due to do the wave 3, which u must know, is the most bullish wave of the Elliott waves...
rubixqube sandipan.mch
@sandipan.mch, The NP margins came under pressure because of expansion in europe and usa as well as notional forex losses. Dont think they have the best hedging policy. Apart from that everything is great. from q1 things will be back to normal and q2 is expected to be great. WOW 50! I dont man that is a bit too low. QIP was at 75.
sandipan.mch rubixqube
@rubixqube, what happens inthe 60 level i also imp, which is the 0.5 fibo n also the 52weeks ma supports....
rubixqube sandipan.mch
@sandipan.mch, I think the stock will rest at 62-64 levels.
rubixqube rubixqube
@rubixqube, Closed at 62.85. What now ?
sandipan.mch rubixqube
@rubixqube, lets wait ans see a base forming, better to avoid this falling knife
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