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Birlasoft - Positional setupCMP 599 on 12.10.24 A Pole and Flag pattern-like formation is in progress on the chart. But a trade setup should be backed by other parameters too. The range of 550-580 has been acting as a good support zone for a long time. This time, it reversed from the zone again—a good time for a buy setup with a favorable risk-reward ratio. Immediate targets seem 670, 710, and 740. The setup fails if the price sustains below 550-540 levels. Position size should be following risk management. This is only for learning and sharing purposes, not trading advice in any form. All the best.
NSE:BSOFTLong
by anandlive
JYOTI STRUCTURES - Turnaround ?Jyoti Structures Limited (JSL) is an India-based engineering, procurement, and construction (EPC) company in the field of power transmission & distribution networks up to 765 Kilo Volts (kV) & 800 kV alternating current (AC) and high voltage direct current (HVDC) transmission lines and 765 kV Substations. JSL offers a range of services including design & engineering, tower testing, manufacturing, construction & commissioning, sub-station design and engineering, and rural electrification. JSL specializes in delivering turnkey projects involving designing, testing, manufacturing, erecting, and commissioning transmission lines, sub-stations, and power distribution projects in India and abroad. JSL was one of the first 12 large accounts referred by the Reserve Bank of India under India’s new Insolvency and Bankruptcy Code 2016 (IBC). This was a significant event in the company’s history, marking a period of financial distress. More recently, JSL has been working to improve its financial situation. In March 2024, the board of JSL approved the offer and issuance of fully paid-up equity shares of face value of ₹2 each to raise ₹175 crore through a rights issue. The rights issue price was set at ₹15 per equity share, including a premium of ₹13 per equity share. The rights issue period was scheduled to open on March 28, 2024, with a closing date on April 10, 2024. The net proceeds from the issue were proposed to be utilized towards the payment of NCLT approved resolution plan dues. This move was seen as a part of the company’s efforts to resolve its financial issues and move towards a more stable financial future.
NSE:JYOTISTRUCLong
by CannySunny
Asian Paints: Turnaround PotentialAsian Paints has been following its Time cycles on weekly chart exceptionally well. As u can see everytime it enters the time cycle zone (red lines) it forms a low and rallies. Price and Time confluence - is the most important way to trade markets. Majority of us are focused only on prices but not on time which is essential for trader to trade profitably in markets and with consistency. Expecting asian paints to reverse on upside as time is right and prices should follow. Price action above 3030 will confirm that this stock has bottomed out and ready to reverse on upside.
NSE:ASIANPAINTLong
by Chinmayonniftyy
Bottom Wedge - Bullish Signal!Honda India Power Products Ltd The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation. Pattern : Bottom Wedge Shows two converging trendlines as prices reach lower highs and higher lows. This pattern may suggest a slowing of downward momentum and a possible upcoming upward price movement. Traders often look for breakout points above the upper trendline as a signal to enter a long position. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:HONDAPOWER
by hardeepssethi
Falling Knife Stock-A case study approach!Introduction:- We have seen an amazing bull run in global markets including our Indian markets in the past 3 years. Many investors have been able to gain multibagger returns from this bull run. However, we all must understand that like every coin has 2 sides, every bull run has few stocks which are either under performing(like our beloved HDFC Bank) or are part of falling knife category. A falling knife is a term used when a security, such as a stock, quickly drops in price. During such instances, investors are recommended to wait for the security to reach its lowest point before buying back in. (Source: CFI) The reason for falling knife could be change of fundamentals, weak results, future degrowth prediction or anything beyond our understanding. And it is important to identify such stocks . Investors try to enter such stocks thinking they have caught the bottom just to keep funds locked in the stock for longer times. Hence,it is beneficial to stay away from them until a reversal pattern is seen with good volumes in weekly time frame. Case study:- Let's discuss one such stock from the footwear category, Campus Activewear. Company is one of India’s largest sports and athleisure footwear brands in terms of value and volume. Good return ratios(ROE,ROCE) above 20%, high sales growth of 32% in last 3 years,slightly expensive valuation but hardly anything so wrong in fundamentals from my understanding. Being a techno fundamental investor, I look at lot of things from fundamental as well as technical perspective before entering. So, from a technical view, just have a look at stock's chart. In late 2022, stock was around 620 levels and now stock is trading near 270 levels which is more than 50% of wealth destroyed. A proper example of Falling Knife whose bottom is still not made. There must be some unlucky investor who is holding the stock from the tops expecting a reversal but what he has missed is the amazing bull run of Nifty from 18800 to 22000 in this last 10 months. And that is a huge miss. Learnings:- #1:-If you are an investor with have limited capital, it is better to have a Stoploss even for your investment stocks in a bull run. Remember, Even Warren Buffet owned Berkshire Hathway booked loss in Paytm #2:-If you are an investor with good amount of free capital, just forget! Don't have FOMO. Cash equity securities are beautiful and unpredictable. We might see this stock above 1000rs levels or below 100rs in the next 5 years. Remember, even The best of best investors owned few stocks which failed miserably. #3:- For an investor trying now to hunt a bottoming/reversal opportunity,do wait for stock to sustain a weekly closing above 320 which is a strong resistance. Remember, not even promoters can catch exact tops and bottoms, so you also should not try to! Conclusion: I would say that if you trust your analysis and company's fundamentals, you should not listen to outside crowd. However, A falling knife can act as a dagger in your portfolio . A smart investor is one understands what company's business is as well as what the stock's chart is trying to say.
Editors' picks
NSE:CAMPUS
by chartistamey
19
METROPOLIS Analysis(Rounding Bottom)!Rounded Bottom Pattern in Metropolis! 50 EMA 100EMA Crossover! Golden Crossover 50 EMA and 200 EMA? METROPOLIS has made a Rounding Bottom Pattern in a Daily Timeframe. We can see the fluctuations in Volume, after the price reaches the bottom it diminished, and after the rally, it gained. The previous trend was a clear downtrend after this stock gained momentum and showed an uptrend now it is trading in the parallel channel and it is trading around its neckline. We should wait till it breaks the parallel channel as well as the neckline, the interesting thing is 50EMA crossed 100 EMA and now it may cross 200EMA so we can see the Golden Crossover. After the golden crossover, we may expect a long-term uptrend in the METROPOLIS. Entry = Above 1492.10 Stop Loss = Below 1419.30 Target = 1790.15 and 1879.35 Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade - 1) Educate Yourself 2) Do your research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
NSE:METROPOLISLong
by Avinash9087
Lyka Labs Ltd. - Bottom Triangle Pattern formationThe " Bottom Triangle " that has formed on the stock of Lyka Labs Ltd . This pattern suggests a potential price movement from the current close of Rs. 121.60 to a range between Rs. 145.00 and Rs. 150.00. The pattern developed over a span of 66 days, which is expected to be roughly the time it might take for the price to reach the target range, based on standard technical analysis principles. It's important to note that while chart patterns like the Bottom Triangle can provide insights into potential price movements, they are not foolproof indicators. Market conditions can change due to a variety of factors including news events, macroeconomic trends, and changes in investor sentiment. Therefore, it's always a good idea to consider multiple sources of information and conduct thorough research before making any investment decisions. If you're actively trading or investing in the stock market, it's also recommended to consult with financial professionals or advisors who can provide personalized advice tailored to your specific situation and risk tolerance.
NSE:LYKALABS
by hardeepssethi
FAIRCHEMOR Analysis(Rounded Bottom)!NSE:FAIRCHEMOR Analysis! FAIRCHEMOR Analysis on Daily Timeframe! Rounded Bottom Pattern Formation(Rare Pattern) in FAIRCHEMOR! Rounded Bottom Pattern with RSI and Volume Analysis! FAIRCHEMOR has made ROUNDED BOTTOM PATTERN on a Daily timeframe. It was in a Downtrend before. It has made a bottom and reversed with Rounded Bottom Pattern. RSI is also in Trending upwards and taking support on Support trendline. If we see volume at the bottom, it diminished at the bottom but during this price was trading within a range. We can expect further upmove in FAIRCHEMOR if the daily candle breaks and closes above 1365.15. There has been a gradual shift from a downtrend to an uptrend; there may be a sharp rally ahead. The Rounded Bottom represents a slow and gradual reversal of the trend from down to up. We can expect the Turnaround in FAIRCHEMOR . Thank You! Entry = Above 1365.15 but candle needs to be closed above it. Stop Loss = Below 1140 Targets = 1) 1693.25 2) 1904.80 3) 2082.50 Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:FAIRCHEMORLong
by Avinash9087
Triple bottom in LALPATHLAB on one hour chartIdentified a triple bottom formation, which is a bullish chart pattern that suggests a potential trend reversal from a downtrend to an uptrend. This formation occurs when the price of an asset creates three distinct lows at or near the same level, indicating that buyers are stepping in to support the stock at that level. There are two possible outcomes: either the stock will rebound from this support level, leading to a bullish trend reversal, or the stock may break down through this support level, indicating that bears are taking control of the market and leading to a continuation of the downtrend.
NSE:LALPATHLAB
by HSJNFinWisdom
2
HINDALCO-- UPDATE : Rounded Bottom Bullish chart pattern. HINDALCO ---UPDATE : 06/03/2023 -- ROUNDED BOTTOM BULLISH CHART PATTERN --DAILY CHART 1. This is reference to previous idea of HINDALCO -- , we can see rounded bottom cup formation of chart , 2. correcttion from 480 sub level sub to 400 level downtrend form, and after support formation of 400 level curve seen upside level . 3. 415 form as support , stock seen close around this level which is near by trendline breakout , if breakout candle seen then stock will be at bullish zone . for target 440-480 + as mention in previous idea. 4. Nearest support level 404-408 , resistance 425-440 5. CCI , EMA bullish crossover seen , ** . arrow indicate rounded bottom formation levels. THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk !! HAPPY TRADING !!
NSE:HINDALCOLong
by champtrade111
4