This script is making a mirror pattern showing how history repeats itself.
Currently, it's available at cheap valuations and also, the stock would be benefited from the upcoming farm season.
The target price is 250 as per the charts. Duration - 6 to 12 months.
This is my analysis, done only for educational purposes, feel free to share your views/feedback.
2 trading sessions earlier, we had highlighted the possibility of Nifty re-testing at least previous highs
Although we did not take any fresh position in Nifty on weekly expiry day, we held on to our positions taken earlier.
- We observe Nifty...
Closing Price 13258
If we observe the current rally and co-relate with structure we saw in Jan - Feb 2020, we observe that it has completed a mirror image pattern to the tune of 50%
- the current channel size matches the size of red channel
- the upward slope in blue channel matches the downward slope in red channel
So far so good.... (When we had...