Please refer the earlier charts updated wherein it was projected for 240 odd levels from 180 levels and now it is expected to move towards 280-300 kind of levels.
Please make a note that this chart is for Educational Purpose Only
The price has made a triple top reversal pattern, which will take the price down to levels of 216. The strategy may fail and hence a stop loss at the previous high created in the trend.
Short at CMP.
SL 233.5
T1: 221.35
T2: 216
Buy-> EMAMILTD Above-> Rs. 210 for the target of Rs. 237 – 280++
Stop Loss Rs. 192 ........
Note... Buy only if eod price close above 210.....
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Do your own analysis &
Comment your views..
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Thank you,
Vishwajeet Sharma
Emami Ltd fell from his very high and has try to find a support at around 300 level recovering from its low of around 250 Level. It was clearly because of the Bearish Wolfe Wave formed shown in green color.
And surprisingly the support it has taken seems valid on both monthly and weekly chart. And the accumulation of shares by the Fund houses in the recent...
Actually I planned this stock as Intraday setup only but when looked up on larger timeframe there were 2 triangles, triangle within a triangle, if you are Intraday trader go down on timeframe & take the bullish breakout of smaller triangle. If you are swing trader, obviously the bigger triangle is for you in Emami. Let's see whether Navratna oil keep us cool or...
