Tranche 1 of 7 shares @ 4590
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price topped out in Aug 2021 end, then distribution till Oct, Decline till Dec end and Accumulation from Jan. Currently price bouncing from 200 Daily EMA
Also Price higher than 200 EMA (daily), higher than 21 EMA (Daily), lower than 50 EMA (Daily). Price crossing over 50 EMA daily would signal trend change confirmation
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI? Yes
2. At important support or resistance - horizontal - Yes bounce from 4400 zone
3. At important confluence of EMAs + price + support - Yes - Daily 200 and Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - No clear play as of now
4. Is there any trend continuation in play?
Currently in accumulation.... Good candidate for up trend to start
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No, not yet.
6. Fundamental factors in play
1. EPS growing quarterly and yearly due to revenue growth and OPM growth (very healthy growth)... PE is lowest compared to EPS growth since Dec 2020
2. Are institutional investors/promotors increasing their stake - Slight decrease in FII and retail holdings which was lapped up by DII
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price topped out in Aug 2021 end, then distribution till Oct, Decline till Dec end and Accumulation from Jan. Currently price bouncing from 200 Daily EMA
Also Price higher than 200 EMA (daily), higher than 21 EMA (Daily), lower than 50 EMA (Daily). Price crossing over 50 EMA daily would signal trend change confirmation
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI? Yes
2. At important support or resistance - horizontal - Yes bounce from 4400 zone
3. At important confluence of EMAs + price + support - Yes - Daily 200 and Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - No clear play as of now
4. Is there any trend continuation in play?
Currently in accumulation.... Good candidate for up trend to start
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No, not yet.
6. Fundamental factors in play
1. EPS growing quarterly and yearly due to revenue growth and OPM growth (very healthy growth)... PE is lowest compared to EPS growth since Dec 2020
2. Are institutional investors/promotors increasing their stake - Slight decrease in FII and retail holdings which was lapped up by DII
Comment:
FAntastic Q4 buy on dips
Comment:
Added 9 More at 4288 on 20 May... plan to add more at 3500