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Indiamartanalysis

Indiamart stock can break the bearish pattern.Indiamart view for next week or month. As the stock is near a reversal phase. Indiamart has been taking support from its 20 ema on a daily time frame and has spent 3-4 days trading near its moving average. On volume analysis, it seems to be in an accumulation zone as the volume are low. The stock on technical analysis is quite bearish as its has been trading below it 20 ema on higher time frame. If the stock breaks the resistance levels of 5200 and 5372, it can move to the levels near 6400 as there was a big fall. Support :- 4585, 4330 Resistance :- 5200,5370 The stock has been consolidating, so wait for the levels to break out of the levels with high volumes. For long term it is a nice bet at these levels. Long term investors can create or add to their a position.
NSE:INDIAMART
by TheMamboMomentum
INDIAMART INTERMESH LTDIndiamart, this stock has completed consolidation period as wave 4 in weekly, and now it is in wave 5, in wave 5 also possibly it has completed wave I and II in lower degree (daily), and now given breakout with good intensity of volume from it, it seems that wave III has been started, along with positive macd trend indicator in weekly and daily uptick, all other indicators are also suggesting positive trend ahead, one can go long at current levels or in dips ( if any ), with mentioned key levels on chart. breakout candle with volume, key levels are mentioned on chart wave structure in weekly could be like this macd in weekly macd in daily rsi in daily dmi adx in daily near bbc in weekly above mid.band in daily Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing
NSE:INDIAMARTLong
by RK_Chaarts