amankavi
Long

Nelcast : Investment stock (Can rebound)

NSE:NELCAST   NELCAST LTD
Scrip can rebound back from support levels after bearish engulfing candlestick in play however scrip has managed to rebound back with small white candlestick in play. Confirmation is yet awaited to enter for short/long duration

A bearish engulfing pattern is a chart pattern that consists of a small white candlestick with short shadows or tails followed by a large black candlestick that eclipses or "engulfs" the small white one. As implied by its name, a bearish engulfing pattern may provide an indication of a future bearish trend .

Rest in charts.

Bullish momentum sign
1) RSI indicator in uptrend
2) Sign of investors holding with large BH             candlesticks as scrip hasnt corrected too much in spite of volatility
3) Fundamentally sound company which has managed to reduce debts henceforth decrease in finance costs in their Q3 results which has eventually increased their PAT/Regularly paying taxes/Sales growth
http://equitybulls.com/admin/news2006/news_det.asp?id=223237
4) Macro factors should also support the growth history like increase with government thrust on infrastructure as the infrastructure has stayed in recession since long so likely to uplift now, M&H CV             segment already seeing growth in volumes
https://news.steel-360.com/growing-demand-foundry-sector/

Aiming towards TP- resistance zone and beyond thereon after entry confirmation until the scrip sustains above support levels.

SL as per risk appetite

https://www.screener.in/company/NELCAST/


Trade active
Trade active: Surging again today, Going to touch 100 :)
Trade active: As envisaged, The scrip has closed above 100 and should be able to surpass 52-week highs seeing the technical trends with MACD bullish crossover already seen and histogram has started to build up so sudden surge this time which have more chances of retracement :)

If Three white soldiers candlestick pattern is completed, We might see great surge then

Trade active: Bullish engulfing candlestick with closing above previous highs can take it back to 52-week highs :)

Trade active: *Ignore the previous chart as it is for Ruchira papers -

Will the scrip manage to rebound back with hammer seen at downtrend wherein When the high and the close are the same, a bullish Hammer candlestick is formed and it is considered a stronger formation because the bulls were able to reject the bears completely plus the bulls were able to push price even more past the opening price.

Results should decide further outcome on 18th May.2018
https://www.bseindia.com/xml-data/corpfiling/AttachHis/db49f586-2ad3-4b89-b03c-a98395431ea4.pdf

Comment: WIll be entering again on dips as the company has posted good progressive results both on QoQ basis and YoY

http://equitybulls.com/admin/news2006/news_det.asp?id=228725

The price action can be seen in ascending triangle pattern. Aforesaid Macro factors should support the OEM in its growth chart
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