This is the Elliott wave analysis of Force Motors on DAily TF, below are the inferences -
1. Stock is in C wave, which is the end of correction after an impulse.
2. It can still continue correction further after creating the bottom. This correction might be time-wise or sideways correction.
3. But currently, the C wave is yet to be completed.
4. Projections or...
Here we had shared today possible Elliot wave counts of Force Motors ltd, on daily time frame, as per Elliot wave structure its clearly showing that we are in correction phase after impulse started from bottom of pandemic period of march 2020 and completed wave 1 till swing high of November 2021, well, if this phase was a fresh impulse as a wave 1, then currently...
Force Motors is a Deep Value Stock trading at 52 Week High Zones, Earnings blast of over 400% YOY in Q3 Results having a price volume action with narrow range trading zone
Force motors making higher high on daily chart
Daily RSI above 50 confirming strength behind the trend
Cup and handle pattern formation in progress
CMP 1567
Maintain SL @ 1450
Target: 1643
Stock Name - Force Motors Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1328
#This is not Buy and Sell recommendation to any one. This is for education...
Chart -> Force Motors Daily
Force Motors has given an inverse head and shoulder with volume pop-up too.
CMP: 1114
Good range: 1060 to 1090
Target: 1200, 1300
SL: 1040 on daily closing
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
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.
Above the breakout of the pattern I expect a return of 27% within 3 months unless the pattern weakens due to Nifty correction or any other global factor. .
It has given Rounding Bottom breakout on the daily chart. All oscillators are in bullish bios. The increased delivery volume also confirming the same. We can expect price movement up to 1375 in the near term.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
