IMFA heading towards 1000?Date: 22 Sep’24
Stock: Indian Metals and Ferro Alloys (IMFA)
Timeframe: Daily
As mentioned in my idea posted on 10 Sep’24 (link is in Related Ideas section), IMFA seems to have completed Wave IV of 3 on 13 Sep’24 and begun Wave V impulse towards 950 as seen in the chart. It can very well go past 1000 as well, only further moves can confirm this.
This is not a trade recommendation. Please do your own analysis.
IMFA
IMFA for 55% upmove Indian Metals and Ferro Alloys (IMFA) on daily chart seems to be in final stages of Wave IV of 3 which may culminate around 600 levels or has it made a bottom(?); only the next few sessions can confirm that. Wave V of 3 is likely to see price up move towards 930-940 levels (~55% jump from lows of wave IV) which is fantastic if it attains it (in next 6 months?).
This chart has been put up as an idea to share my views on the stock and in no way a trade recommendation. Please do your own due diligence and analysis.
Indian Metals & Ferro Alloys Ltd - Breakout Setup, Move is ON...#IMFA trading above Resistance of 640
Next Resistance is at 1008
Support is at 463
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
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.
IMFA For Swing Trading IMFA Prediction for Swing/ Posional Trading
Entry 1 was at breakout level 465. This level almost retested. You can enter into trade above 495 or you can entry according to your experience.
Sls- according to you RRR.
Targets- 525,555,585,615,646,675,705,735,…,… (more will be updated later if need )
According to your “STOMACH” book your profit. Always maintain your risk management.
Watch Carefully – The Chart Explains For Itself.
Disclaimer:
I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
Happy trading.
About IMFA –
Indian Metals & Ferro Alloys Ltd. engages in the production of Ferro alloys. Its manufacturing cycle comprising of chrome ore mining, power generation and Ferro alloys smelting. The firm operates through the following segments: Ferro Alloys, Power, Mining and other. The company was founded by Banshidhar Panda and Ila Panda on November 20, 1961 and is headquartered in Bhubaneswar, India.
IMFA - Ichimoku BreakoutStock Name - Indian Metals & Ferro Alloys Limited
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 378
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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#IchimokuCloud
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IMFA: Short term view; BullishAs of now this is the safest stock upto Jan(thier record date of bonus)
Technical: 1. Price is above the cloud and Lagging span above the cloud and candle close
2. Daily MACD crossover
3. Daily RSI positive
Fundamental: 1. Bonus candidate
2. Last qtr result was good
3. Half Yearly EPS is 90+
4. Southafrica affected by covid. They are the top producer of Ferro chrome. So ferro chrome price may go high.
It can go above the given target levels. CMP(when posted): 803
Vijayaraghavan.K,
RKV Fin,
Kovilpatti.
IMFA | 25% upside potential | Good R:R setupCMP- 785
SL- 740 close basis
Target - 980-1000 levels
17/8/21
- Breakout and retracement above previous ATH levels-
- Support zone 740-800 levels
- Above all major EMA
- Volume surge on breakout with weaker pullback
- Delivery VOL in pas days have been exceptional
- Long wick candles at support level indicating buyers standing there
-
- Fundamentals positive
IMFANote:
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 opens, the condition might change so learn to handle different conditions...
4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks...
Keep an eye ladies and gentlemen. Cheers and Happy Trading
One Right Trade's Swing Trade Idea #187 : Long on IMFAThis is a public swing trade idea from "one right trade" and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
IMFA Accumulation Zone Indian Metal & Ferro Alloys - IMFA is available at great bargain price
this stock can be accumulated from current levels i.e. 110 till 78
It has recently hit 90 level and that is great support for now breaching which it can see levels of 78
However one should consult their financial advisor before making any
decision to buy or sell equities