COFFEEDAY
COFFEEDAY - flavors are niceOn Weekly Time Frame :
We can clearly see - the stock is trading above most of the moving averages - and moving towards an uptrend.
Also, we can see that Buy pressure is above the Sell pressure
On Daily Time Frame :
Add to watchlist -- we may see a good upside to 80+ levels in a short period.
Target-1 Near | +75% Gain on DipBuy in 30 days | Coffee DayFirst, allow me to beat my trumpet, please.
Here's a reminder of the Trade Plan given on 12th Dec 2021
(See my trade idea on TradingView titled:
"Coffee Day opens up 2 wild targets that can help swing traders profit up to 300%?"
Trade Plan
- Entry: Test Entry on market open.
- Add on pullbacks at 44.15, or worst case up to 40.20
- Initial Stop Loss (ISL): Below 38.80
Potential targets for the upcoming first half of 2022 are;
Tgt 1 = 76.80 (+55%)
Tgt 2 = 89.55 (+80%)
Tgt 3 = 99.45 (+100%)
What's happened so far.
Test entry taken at 53.20, then added on dip at 49.60 on 13th Dec
Waited as per plan added furthur on dip at 41.30 on 20th Dec
Fingers, hands all crossed, since then.
Thankfully ISL kept at structure was perfect.
Based upon add levels currently stock has returned +75% on the least risk position. ( Which is still open since )
Average return on the stock holding currently = 34.97% (100% buys still open)
Can you see the pattern?
How many similarities can you spot with my studies shared on Dwarkesh Sugar?
What have you learned from these studies and updates, and how will you apply and gain from it?
Thank you for checking out my content. Hope you liked It.
👇👇 Check my idea snapshot image dated : 14th Nov 2021
See below Related Idea:
Coffee Day opens up 2 wild targets that can help swing traders profit up to 300%?
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Coffee Day opens up 2 wild targets that can help swing traders pCoffee Day opens up 2 wild targets that can help swing traders profit up to 300%?
Coffee Day stock has now moved from Stage 1 to Stage 2. This indicates a start of a new uptrend.
What's been brewing so long? (in technical lingo)
The basing stage has taken about 18 months from its all-time low of Rs. 14.25 in June 2020
The first weekly contraction was sharp and deep. It formed a low of 20.20 and moved to make a high of 49.65. The flag pole rise was a good 145% in a scant six weeks. The second contraction was again deep. The final weekly pivot range was in the narrow range of 13.73% and this took a good six weeks as well.
The current week’s close has witnessed a convincing breakout, that's supported by high volumes. A Wide-Ranging Bar (WRB) that formed this week has decisively closed at its highest levels and broken above on the weekly charts.
It's time to perk up and watch out for more.
This is the time where the market participants can continue their buying frenzy in truck loads. The early phases in the last two weeks have already seen significant buying since the 18th Oct 21. The higher weekly volumes show that Institutional buying has been in progress for the past seven weeks.
The institutional buyers seem ready to fire on all cylinders.
What lies in the weeks ahead?
The possibility in the coming week itself strongly seems to suggest a gap up open on Monday. The coming two weeks could lead to follow-through in price action with a high probability of the stock continuing to close at its extreme highs.
In all probability, this stock has a strong potential to turn into a +3X multibagger.
Potential targets for the upcoming first half of 2022 are;
Target 1 = 76.80 (+55%)
Target 2 = 89.55 (+80%)
Target 3 = 99.45 (+100%)
What looks possible further out into the future?
The second half of FY 2022 could well see the following wild targets opening up.*
Target 1 = 195.70 (+295%)
Target 2 = 216.80 (+337%)
*Subject to the uptrend remaining intact.
What are the hurdles ahead?
The range of 76.80 to 89.55 could well offer strong resistance. It will be interesting to see how Coffee Day powers through these ranges. These ranges should offer an opportunity for a healthy pause, consolidation, and low-risk entry at these higher levels.
Once Coffee Day manages to clear and sustain above 99.45 and close into the 3-digit territory. Then the path ahead could well be ready for a ludicrous mode move. (Tesla fans would understand this) For the rest of the guys that means rocket boosters lying in this zone could rapidly take this stock to the higher zones indicated.
Here's my Trade Plan
- Entry: Test Entry on market open. Add on pullbacks at 44.15, or worst case up to 40.20
- Initial Stop Loss (ISL): Below 38.80
Will keep updating the stock views on a weekly basis. (Depending upon significant price action and market structure changes.)
Coffee is best enjoyed while it's smoking hot.
Coffee day to Retrace @39 - 40 zoneCoffee day to Retrace @39 - 40 zone
Stock has shown a significant uptrend & has been facing strong resistance at the trend line.
Stock to face resistance once again & come down as low as 24.
Can go long at this retraced value for Best Price, when it breaks the resistance it will be a big move.
Disclaimer : Do your own analysis before entering any trade. Enter trade at your own Risk.