MANYAVAR: Reversal incomingAfter a long consolidation MANYAVAR is finally moving out of the box and expected targets: 1020-1050-1100-1150-1200
NOTE: I'm not a SEBI REG. Study before investing.
MANYAVAR
Breakout in Vedant Fashions Ltd...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.
ISKO MISS MATT KAR DENA+ VCP
+ Bohot bada vcp
+ Mast Base (340 Dyas)
+ Good above 1350-1360
Please Please keep on Radar!
MANYAVAR - LONG ENTRY MANYVAR qualifies for long entry now.
Volume is greater than previous session by 70.69%.
Volatility:
ATR% of the stock is 2.56%
Moving Average Observations:
Price above 50-day, 100-day and 200-day Moving average.
RSI Observations:
The Daily RSI indicator has crossed above 70 in the current session. Current Daily RSI reading is 70.99.
ADX Observations:
The Daily DMI position remains bullish.
Donchian Channel Observations:
Price is above middle Donchian channel (Bullish).
Ichimoku Observations:
Price above Ichimoku clouds.
Bollinger Band Observations:
Price is above middle Bollinger band (Bullish).
Weak Below 1300
Impulse move after a long timeThe price hit both horizontal resistance and falling trendline resistance in a clean 5-wave move.
Is it start of (3) rd wave - we will see.
In the short term, any dip through the anticipated path could present a good RR entry (near 1140-1160), as it will also complete right shoulder of the Inv H&S.
Looks like IPL fever is here to stay for the scrip.
Lets see how this develops.
VEDANT FASHION (MANYAVAR) LTDVEDANT FASHION (MANYAVAR) LTD If the support respect then it will continue otherwise trend goes into reverse.
MANYAVAR - Ichimoku Bullish Breakout Stock Name - Vedant Fashions 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 1345
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
# Cloud Trading
# Ichimoku Cloud
# Ichimoku Followers
I hope you all like my analysis.
Please do share your thoughts into comment section.
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MANYAVAR - Perfect Rounding Bottom NSE:MANYAVAR
Vedant Fashions is engaged in manufacturing, trading, and sale of readymade ethnic wear for men, women and kids primarily in India.
PE Ratio: 182.32
PB Ratio: 22.20
Sector PE: 1,245.48
Sector PB: 6.10
Sector Div Yld: 0.51%
Some Positives:
Growth in Net Profit with increasing Profit Margin (QoQ)
Company with Low Debt
Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
Near 52 Week High
Some Negatives:
Companies with growing costs YoY for long term projects
Inefficient use of capital to generate profits - RoCE declining in the last 2 years
Inefficient use of assets to generate profits - ROA declining in the last 2 years
Declining Net Cash Flow : Companies not able to generate net cash
My Opinion: The low liquidity is my only big concern. Otherwise the rounding bottom pattern is screaming BUY.
NOT A RECOMMENDATION. JUST FOR EDUCATION. Thanks.
