Intellectdesign
Corrective Phase about to completeThe structure indicating that the scrip in last leg of corrective phase - wave 2
Crossing Swing highs would make a valid Inverted Head & Shoulder Pattern - as the move in head was a clean 5 wave structure. A probable Trend reversal on long term chart.
We would be looking to have a starting position on green closing (daily TF) and add as and when the swing high breaks.
Invalidation point for our trade would be 393
Intellect Design This Stock has done a golden ratio correction of the rise from Covid bottom & we have seen a 5 Wave rise from lows.
The rise from covid lows to highs was a clear impluse & correction was in 7 Swings which makes it a ideal Wave 2 ending exact at 61.8% levels so if the stock is starting Wave 3 we might see this stock do a 5x.
I am not a SEBI Registered analyst chart shared for education purpose.
Intellect Design for Next Few DaysNSE:INTELLECT
Analysis after 9th dec 2022 closing
Wave Count - Last leg for C wave is remaining.
Berish Revered Divergence - which indicates buyers exhausted.
Weekly TF - Last week closing was formed bearish engulf candle for Weekly TF.
What if Analysis,
Next T. Day if Huge GAP UP wait for to break 420 Rs support for confirm Entry.
Target
~334 rs
Expecting a Bullish Momentum in INTELLECTAs per the 2 Hour Chart of INTELLECT, we have witnessed the Formations of a “Bullish Harami” Pattern backed by a confirmation candle.
Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein, the stock is being expected to face a resistance initially at around the levels of 808.85, 828.30, and 846.70. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 766.90, on closing basis.
Closing Price (as on 02.05.22) : 788
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Intellect Design Chart Breakout !!📈 Intellect Design 📉
It broke out from Resistance Zone of 780-800 and also closed above high of July 2021 with strong green candle. So I am biased on long side.
On Buy Side I am looking for Targets of 1000 and 1100.
StopLoss should be kept at 810.
It offers 1 : 2 Risk Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Intellect Design long side targetsNSE:INTELLECT
here we are using harmonic for long side target in positional trade one can long till target one for swing as well.
if find reversal at target 1, one can short as well and ones find support then go for target 2 again if find reversal at target 2 go for short again.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
INTELLECT DESIGN "BUY CALL" POSSIBLE 20% ROI
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