LONG TERM VIEW FOR ALKYL AMINESOn monthly basis, price has made a significant correction and is currently at the Fibonacci level of 0.618, which is the "Golden Ratio" for a price. The whole area from 2000 to 2150 is a huge demand zone for the buyers to accumulate in bits. The price will confirm it's change of structure above 2800 on a higher timeframe.
Alkylamines
Alkyl AminesI am sharing my trendlines in this chart so that you can take informed decision accordingly. Alkyl is one of the 2 main listed amines company in India. The company is fundamentally very sound, however, I feel a sharp rise in stock price has lead to a sharper correction in this counter. The whole chemical pack is under pressure currently.
ALKYL AMINES(Bullish wolfe wave)ALKYL AMINES:
Few key points to note:
- A Bullish WOLFE WAVE has been formed
- Waves counting are mentioned
- Tested the Gann Level of Prior Trend
- Recently tested 200 EMA
- RSI Exaggerated Divergence
I expect a bounce from this point for 3578-3630-3849, but we don’t have any reversal signal yet. Once a bullish candle is formed at this level, we can long for the mentioned targets.
CHART & ANALYSIS – ADARSH DEY
ALKYLAMINES short term investmentALKYLAMINES short term investment
Monthly - Weekly-Daily demand zone
Short term investment idea - Holding period 2-3 months
Entry at CMP 3422, 3375 & 3330
SL below 3250 CLBS
Target T1:3610 & T2:3920
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ALKYL AMINES - Awaiting Pennant BOI believe since the RSI broke out , the price will follow the same. It has been a good consolidation.
I suspect the breakout here will be explosive but in these volatile markets lets see if it does.
Be cautious of a breakdown by chance.
Keep a strict stop loss as per your risk appetite.