Tranche 1 - 53 @ 1513 on 8 April
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 bottomed at 1297... did an inverse head and shoulders and broke out of 200 EMA daily to top out at 1715 and then retracing to 200 EMA at 1500... this was because HDFC bank and HDFc merged
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI - Price broke out... now consolidating
2. At important support or resistance - horizontal - Yes 1500 at stable 200 EMA daily line
3. At important confluence of EMAs + price + support - Yes - 200 daily
3. How are the candlesticks behaving and what is the volume doing
Huge volume candle and price candle on 1300 to 1500 range... also biggest merger.. will buy more if the price comes down
4. Is there any trend continuation in play?
Looks like uptrend will continue... price should bounce upwards from 200 EMA daily
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No pullbacks or breakouts as of now
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising Quarterly and Yearly... because of better sales... OPMs consistent... also PE ratio to EPS is very very attractive since 2017
2. Are institutional investors/promotors increasing their stake - Stake consistent in owners and institutional... big dip in retail and big pick by DIIs
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 bottomed at 1297... did an inverse head and shoulders and broke out of 200 EMA daily to top out at 1715 and then retracing to 200 EMA at 1500... this was because HDFC bank and HDFc merged
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI - Price broke out... now consolidating
2. At important support or resistance - horizontal - Yes 1500 at stable 200 EMA daily line
3. At important confluence of EMAs + price + support - Yes - 200 daily
3. How are the candlesticks behaving and what is the volume doing
Huge volume candle and price candle on 1300 to 1500 range... also biggest merger.. will buy more if the price comes down
4. Is there any trend continuation in play?
Looks like uptrend will continue... price should bounce upwards from 200 EMA daily
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No pullbacks or breakouts as of now
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising Quarterly and Yearly... because of better sales... OPMs consistent... also PE ratio to EPS is very very attractive since 2017
2. Are institutional investors/promotors increasing their stake - Stake consistent in owners and institutional... big dip in retail and big pick by DIIs
Comment:
Tranche 2 - 36 shares at 1402... plan to add more at 1254, Q4 results are very good