Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose and my personal view. Please take position after consulting your advisor.
NSE:CHOLAFIN
Cholafin is looking good on charts. It has been trading in raising channel, yesterday it closed at the top of the channel. 225 was resistance which also broken with volume. Buy if breaks and sustain above the PDH.
Date- 02 Aug 2020
Cholamandlam Finance (CMP 202.50)
Double Bottom Pattern. Also Max OI addition is at 180 strike price (1.60 lacs OI added in just 1 day). It shows where the under current is building up in the stock.
Target - 189.50
T1- 198, T2- 193.50, T3- 189.50; SL- 207
Once the stock price moves below 190 then new opportunities will open for 180 level. Will...
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As you see in the chart the impulsive wave ( 1,2,3,4,5 ) completed and price shifted toward corrective wave A, B and C
The cholaFin consolidate between same area from few days and last day its gives a fake...
On daily chart of Cholafin is on bullish mode & trading above the 20 EMA Level . RSI level is also above 60 which is again the sign of strength. Now above 224 after the BO as marked will take long entry for the next target level of 235 - 240. So add the stock in your watch list & see the price action movement of the stock.
Always do trading as per your Reward...
Note: This is for educational purpose only.
There is a strong build up near resistance for the last 20 days or so. RSI is above 60 which indicates strong bullish momentum.
CHOLAFIN IS NEAR 38.2% RETRACEMENT LEVEL FROM ITS HIGHS OF 348 BREAKING OF 216 ON CLOSING BASIS CAN LEAD ITS REALLY TO 235-40 ELSE IF 194 BREAKS ON CLOSING BASIS WE MAY SEE 175-70 LEVELS SIMPLE AS THAT...
