Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Edelweiss Fin Serv - Long
Buy : ₹ 87- ₹ 84
Target: ₹ 89.05, ₹ 91.70
Support: ₹ 82.90 , ₹ 78.5
Invest and Trade Wisely! Good Luck!
You can also see my other stock analysis and the results in my profile ideas. Please follow me , If you would like to see more ideas on winning stocks.
I am NOT a SEBI registered consultant/Advisor. It is...
Edelweiss Financial Services has been in a sharp downtrend since long. Now it seems a reversal can happen. Triangular breakout and bottom seems to be capped. Rakesh Jhunjhunwala has increased his stake in it. Its peers have been performing like motilal oswal, IIFL Finance. So this can also show a re rating. Looks like a good buy.
Stock has been showing a lot of bullishness recently. It has recently broken the accumulation phase, and is on its path upwards. A strong resistance at 85, which if broken will lead to targets 130, followed by 200!
On the daily chart of edelweiss, it can be seen that how crucial 70-73 zone is from past year (July'20). Yesterday Edelweiss gave a good breakout with great volumes. (OPEN CHART FOR DETAILED VIEW)
Following the breakout, there is a perfect retrace too!
Entry: CMP (70-73)
Target 1: 82-83
Target 2: 90-91
Target 3: 96-97 (Following the higher high...
Target : 80.85
Time Frame < 3 months
Can hold the stock for longer time after part booking.
Inverted Head & Shoulder Pattern.
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Higher Highs & Higher Lows.