Sector: Information Technology/ Industry: BPO/ITes
Market Cap: 7,395.02/- Cr. / Category: Small Cap
Current Price: 500.05/- Target Price: 682, 733, 938/- Stop loss: 338
Ticker: NSE: Quess Recommendation: BUY (Buy Around 400 – 389)
Date: 29/11/2023
Elliott Wave Theory Outlook – Quess Corp ltd, Buying the Dips around 400 – 389 zone.
Hello traders. In this technical research report we’re going to take a quick look at
the Elliott wave chart of Quess Corp ltd. As our members know, the stock is showing
impulsive bullish sequences that are calling for further strength. Our team recommended
members to avoid selling, while keep favouring the long side. Recently we are in
corrective structure in a smaller time frame. In the further text we are going to explain
the Elliott Wave Forecast and trading strategy.
The stock is giving us wave (ii)) pull back that is unfolding as a Zigzag pattern in a smaller
time frame. The price might reach extreme zone at 411 – 390, We don’t recommend
selling the stock and prefer the long side from the 50 & 61.8% Fib levels. As the Secondary
trend is bullish, we expect to see at least 3 waves bounce from our buying zone. Once
bounce reaches 61.8% Fib against the (wave 3) high, we will make long position risk free
(put SL at Breakeven) and take partial profits. Invalidation for the long trades is at 338
level.
Momentum & Trend Indicators:
Indicator Value Zone
Relative Strength Index 59.19 Overbought
Rate of Change 7.11 Positive
Stochastic %K 72.01 Neutral
MACD 13.23 Positive
Disclaimer: I am not a SEBI registered Research Analyst. The information provided here is
for education purpose only. I will not be responsible for any of your Profit/Loss with this
recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve
substantial risk and may not be suitable for all investors. Leverage can work against you as
well as for you. You should therefore carefully consider your investment experience as
well as financial condition before deciding if trading is suitable for you or not.
Market Cap: 7,395.02/- Cr. / Category: Small Cap
Current Price: 500.05/- Target Price: 682, 733, 938/- Stop loss: 338
Ticker: NSE: Quess Recommendation: BUY (Buy Around 400 – 389)
Date: 29/11/2023
Elliott Wave Theory Outlook – Quess Corp ltd, Buying the Dips around 400 – 389 zone.
Hello traders. In this technical research report we’re going to take a quick look at
the Elliott wave chart of Quess Corp ltd. As our members know, the stock is showing
impulsive bullish sequences that are calling for further strength. Our team recommended
members to avoid selling, while keep favouring the long side. Recently we are in
corrective structure in a smaller time frame. In the further text we are going to explain
the Elliott Wave Forecast and trading strategy.
The stock is giving us wave (ii)) pull back that is unfolding as a Zigzag pattern in a smaller
time frame. The price might reach extreme zone at 411 – 390, We don’t recommend
selling the stock and prefer the long side from the 50 & 61.8% Fib levels. As the Secondary
trend is bullish, we expect to see at least 3 waves bounce from our buying zone. Once
bounce reaches 61.8% Fib against the (wave 3) high, we will make long position risk free
(put SL at Breakeven) and take partial profits. Invalidation for the long trades is at 338
level.
Momentum & Trend Indicators:
Indicator Value Zone
Relative Strength Index 59.19 Overbought
Rate of Change 7.11 Positive
Stochastic %K 72.01 Neutral
MACD 13.23 Positive
Disclaimer: I am not a SEBI registered Research Analyst. The information provided here is
for education purpose only. I will not be responsible for any of your Profit/Loss with this
recommendation. Consult your financial advisor before taking any decisions.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve
substantial risk and may not be suitable for all investors. Leverage can work against you as
well as for you. You should therefore carefully consider your investment experience as
well as financial condition before deciding if trading is suitable for you or not.
Elliott wave Analysis, All types of Asset classes are covered like, Indices, Stocks, Currencies and commodities.