Cholamandalam Investment cmp 1343.05 by Weekly Chart viewCholamandalam Investment cmp 1343.05 by Weekly Chart view
- Price Band 1175 to 1215 Support Zone
- Price sustaining along Rising Support Trendline
- Price in attempt to sustain above Falling Resistance Trendline
- Volumes are spurting over past few days and sustaining above avg traded quantity
- Stock Price is hovering in sync with EMA 21 and decently placed above EMA 50, 100, 200
- Weekly Support seen at 1215 > 1101 > 990 with Resistance seen at 1452 > 1556 > ATH 1652
Cholamandalam
CHOLAMANDALAM FINANCEAfter the correction waves in the mark down stage of the price action, the accumulation phase is complete with a Head and Shoulder pattern. There is assurance in the base formation by way of a double bottom. The stock may not race fast enough but the trajectory seems to have turned bullish.
Cholamandalam Investment cmp 1490.00 by Weekly Chart viewCholamandalam Investment cmp 1490.00 by Weekly Chart view
- Support Zone 1250 to 1310 Price Band
- Price well above EMA 21 > 50 > 100 > 200
- Volumes are pretty steady and stable over the past few weeks
- Weekly basis Support at 1355 > 1220 > 1065 Resistance only at the ATH 1652
- Price traversing majorly within the Rising Parallel Price Channel by steady Volumes
CholaFin Wave Analysis - Wave 3 is Running! Use Ichimoku to RideCHOLAMANDALAM (CholaFin) Chart Analysis
As per Elliott Wave analysis, CholaFin is still bullish. The price reversed after a strong bullish divergence in the MACD and has completed the subwaves of Wave 2 of Wave 3. Currently, it is moving up in Wave 3 of Wave 3.
Use Ichimoku for entry & exits (Daily time frame):
Entry Point: Look for a good dip to enter and avg(for long-term) when the price is near the Ichimoku Cloud's support. Enter when the Price breaks TS/KS with momentum candle.
Exit Point: Consider exiting the position when the price starts to show weakness near TS and KS in daily chart. Another exit signal could be when the candle close below the cloud.
By using the Ichimoku indicator in conjunction with Elliott Wave analysis, you can identify more precise entry and exit points to maximize your trading strategy.
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
🤯Hello I don't know that have you spotted it or not but..... i spotted it today when i was analyzing Nifty 500 i found Cholamandalam Housing i found a very small head and shoulders but when i looked it more deeply i found this. But as you all know we can't sell it like intraday as we can only buy in delivery so but to take knowledge you can watch some similar patterns which i will post tomorrow so if you want let me know thanks
CHOLAMANDALAM INVESTMENTThis stock has broken down support trend line on daily chart along with good intensity of volume.
Stock is possibly forming a bearish head and shoulder pattern and currently, the neckline is at 603. close below 603 will confirm a head and shoulders breakdown which may the open the gates of 482 levels.
Also trend indicators like macd, rsi, rk momentum, rk mass psychological cloud, dmi and adx all are supporting same bearish bias, which increases our confidence to go short in this stock. Price is now trading below 20DMA and also below lower bollinger band which increases our negative bias as a momentum fall expected. The elliot wave structure suggests that the short to medium term uptrend has reversed because wave A was possibly a five wave decline, and corrective pullback wave B looks complete and now possibly wave C is unfolding. RK's momentum also given a sell signal.
If wave C is going to equal to wave A then 562 is minimum to go for, and if it goes 161.8% of wave A then we can see 482 levels ( head and shoulder pattern's size )
Breakdown with a good intensity of volume
Price also broken 20DMA and now trading below lower Bollinger Band
macd negative crossover on daily also below zero line
macd already running negative on weekly chart
RK's stop line along with mass psychological cloud suggesting to go short
RK's momentum sell activated on daily chart
rsi on daily downtick and below 40
dmi adx also negative on daily chart
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Chola Finance Analysis !! Broke Out.📈 CholaFin 📉
This broke out from a resistance zone 690-700 on closing basis after testing three times.
On Buy Side I am looking for Targets of 800 - 820 zone.
Target Calculation = 2*(Resistance Level - Last swing low)
StopLoss should be kept in 680-690 zone.
It offers 1:3 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
CHOLAFIN Rebound from Support; LONG TRADECholamandalam Investment has been following a parallel channel. It recently touched upper band and corrected down to the lower band of this channel. The support stands at levels of 577-580. You can Go LONG Here, and exit this trade at upper band of the channel. Also, this stock has been consolidating for long, after a strong bullish movement. The breakout of this channel can lead the stock to scale NEW HIGHS. I am personally Bullish on this trade!
** I am not SEBI registered, kindly consult your advisor before taking trade.**