CautiousChartist

INDIAMART INTERMESH- Watchout !!!

Long
NSE:INDIAMART   INDIAMART INTERMESH LTD
This stock is poised for a really good move either side.
The indications (not conclusive) suggest that the move would most probably fire on the upside.
The breakout could be massive so choose your entry based on your conviction.
However don't compromise with the stop loss here because if it chooses to go downside, the floor could slip away from your feet in no time.

Comment: Target 1 done. Consolidating around that region getting ready for target 2. Raise the trailing stop loss as per risk appetite and protect the profits.

Comments

Thank you sir, I got good profit based on your analysis.
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@elango_shr, Its a pleasure and I'm really happy that this is benefiting people.
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or a rounding bottom?
Thanks for your analysis.
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CautiousChartist RajaSekharVelisetti
@RajaSekharVelisetti, Rounding bottom will be formed after this analysis triumphs.. The way I see it, this wedge/ triangle breakout should take it to around 8950 where we would see some correction before further upmove to 9950 where the over all picture would be a rounding bottom but more importantly an inverted head and shoulder.
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RajaSekharVelisetti CautiousChartist
@CautiousChartist, oh okay okay. Thanks for explanation.
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RajaSekharVelisetti CautiousChartist
@CautiousChartist, Hi I bought 2 shares today, unfortunately Intraday was selected, I didn't notice it until it was squared off at end. I hope it is available for < 7400 tomorrow. Just thought of sharing. Thanks for your analysis.
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CautiousChartist RajaSekharVelisetti
@RajaSekharVelisetti, It is a buy only above the close of 7465. Ideally buys should always be made after 230pm where the closing levels are more or less certain. Don't get hasty because buying at resistance is the worst thing to do.
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RajaSekharVelisetti CautiousChartist
@CautiousChartist, aaah okay. Thanks for information. I will observe this now.
Reply
CautiousChartist RajaSekharVelisetti
@RajaSekharVelisetti, You can see my mistake I committed in Mazdock by not respecting the level and a close above that. Mentioned it in the update idea section.
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