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West Coast Paper Mills Ltd! Price Channel ChartTechnical : Price Channel Target @ 380 Chart Pattern : “Bullish Price Channel” Main Trend Line : At 8 Dec 2017, 18 Dec 2017, reaction lows formed the beginning of the main trend line . Subsequent lows in 03 January 2018, and 10 January 2018 confirmed the main trend line . Channel Line : Once the main trend line was in place, the channel line beginning from the 11 Dec 2017 high was drawn. A visual assessment reveals that these trend lines look parallel. More precise analysts may want to test the slope of each line, but a visual inspection is usually enough to ensure the “essence” of the pattern. Bullish Price Channel : Subsequent touches along the main trend line offered good buying opportunities in mid- 18 Dec 2017, late May and mid-August. The stock did not reach channel line resistance until 22 Dec 2017 and 26 Dec 2017 (red arrow) and this marked a significant reaction high. If channel line resistance break with an acceleration above marked (blue arrow). Then Some analysts might consider the stock overextended after this move Strong Fundamentals : (Fundamental Medium Term Target 800) (Fundamental Long Term Target 1000) 1.Total (Mkt. Cap) : 2170cr 2.Debt : 0.59cr 3. Stock PE : 16.00 4.ROE :12.64%
NSE:WSTCSTPAPRLong
by sagar.potekar.7
SBI: Whats the story...SBI CMP 256 Observations - trading in ascending channel since Feb 2016 - currently at lower end of channel -trading below 50 day EMA - trading below 200 day EMA View going forward Scenario 1 - stock is at major trendline support & if the stock holds on to current level then - the stock may see a bounce towards either 50 day EMA currently around 278 or max towards mid red line of channel around 295-305 levels - and then we may see a bigger fall Scenario 2 - The stock breaks past the channel support - takes support around green line (around 244) - on bounce finds resistance at 200 day EMA - & falls again Given the chart setup - likely short term target 269-278 - & if we seen rejection on any bounce then the target over medium term looks likely to be around 220-196 Take care & safe trading...!!!
NSE:SBIN
by indiamarketoutlook