SIS Ltd - Elliott Wave Pattern and Bullish Bat Pattern - Long

Hi Friends,


We are going to analysis the Script SIS Ltd .
The Script was strong Fundamental Script and the company does not have the debt and P/E was below the industries average and PEG also below 1. The average return of ROE and ROCE for the last years is above 20Pct which sound good.

The valuation of the script as per fundamental is very attractive whereas right now we are going analysis the script in Technical Part:

The script has strong Resistance Range in Daily TF at 536-545, 479-491.
The script has Strong Support at 436-428.

The script has dynamic support of EMA50 and EMA79 at 458-448

Current EMA 200 was flat and the script has taken the support of EMA200 and bounch back.

The trendline was also acted as the support.

Please find the support and resistance of the weekly time for the script

Currently the script was in the zone of Weekly resistance which was highlighted in yellow colour.

Stochstic RSI of Weekly was in the range of 60 and range of 30 in Daily TF.
2hrTF evidence the Stoch RSI was in Overbough Zone.

MACD was Bullish range in 2hr and Daily TF and in Weekly the bullish range was getting reduced.

ATR Volatility was in peak.

CPR of the script was in bullish bias compare to previous month and its was extreme narrow cpr .
This month the CPR may be Narrow or Average CPR .

2hr TF:

The script was in the Elliot wave pattern and correction also was completed.
Also script was in the descending triangle pattern where the breakout has happend.
Also a double bottom was formed at range of 429

Based on the above confluence, we here have bullish view in the Script SIS Ltd

Entry - Area of Value - Either Dynamic S&R or 442-445
SL - Below the previous candle- 1 ATR
Target - 1st Tgt-503 - 498 and 2nd Target - 530-529

Note: Entry once the confirmation of Bullishness evidence in the ARV . (i.e. Engulfing Pattern, Price Rejection, etc)

Trade active: Trade is active from 02-Sep-2021. Rate Bought at 480.90
SL - 464.40


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