Moving_average
Analysis of intraday,intraweek Moving average stocks 19/Nov/2024Analysis of intraday, intraweek Moving average stocks 19/Nov/2024
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POKARNA going through a tight consolidation upside move possiblePOKARNA stock is going through tight consolidation in a bullish pattern on daily charts
promoter's holding is stable
FII's increased there position in this stock in September month
quater result expected good
1000 is a strong support am expecting a good upmove from this levels
entering in this stock with strict SL of close below 20 MA
**Disclaimer:** This information is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a financial advisor before making investment decisions.
ELIN - 1.5 Years Downtrend / Consolidation BreakoutElin Electronics Ltd
1) Time Frame - Weekly.
2) The Stock has been Consolidating since (February, 2023). Now It has given a Consolidation breakout & Closed with good volume & good bullish momentum candle in weekly Time Frame.
3) The stock may reach it's previous Life Time High (245 - 17.50% from the price 208.32).
4) Recommendation - Strong Buy.
RKFORGE - 10 Months Consolidation Breakout / All Time HighRamkrishna Forgings Ltd
1) Time Frame - Weekly.
2) The Stock has been Consolidating since (August, 2023). Now It has given a Consolidation breakout & Closed at it's Life Time High with good volume & good bullish momentum candle in weekly Time Frame.
3) The stock may find it's next resistance around the price (1100 - 22.30% from the price 899.10).
4) Recommendation - Strong Buy.
INOXGREEN - 6 Months Consolidation Breakout / All Time HighInox Green Energy Services Ltd
1) Time Frame - Weekly.
2) The Stock has been Consolidating since (January, 2024). Now It has given a Consolidation breakout & Closed at it's Life Time High with good volume & good bullish momentum candle in weekly Time Frame.
3) The stock may find it's next resistance around the price (210 - 22.90% from the price 170.82).
4) Recommendation - Strong Buy.
Radico Khaitan, Long Base BreakoutRadico Khaitan, a major alcohol manufacturer in a very long base(~200 days)
Long base = Big Breakout (check recent example Gravita India)
-Kind of Inverted Head n Shoulder too
-Good shakeout of 200 dema too
-Recovered fast from 4th june fall with good vol and price action.
EPACK - 5 Months Downtrend Breakout Epack Durable Ltd
1) Time Frame - Daily.
2) The Stock has been in a Downtrend since (January, 2024). Now It has given Downtrend breakout & Closed with good volume & good bullish momentum candle in Daily Time Frame.
3) The next resistance would be It's Previous Life Time High (224.50 - 8.90% from the price 206.10).
4) Recommendation - Strong Buy.
Thomas Cook, one simple horizontal line setupTraveling is booming in India post covid.
And travel companies are enjoying this piece of pie.
-Posted growth YoY EPS growth, OPM% also improving.
-Near Major resistance, under which it is consolidating for 50 days (good consolidation)
-Good Shakeout, when price went below major ema (here 21 dema) and rally back (also known as MAU&R: Moving Avg Undercut and Rally)
-Tightness near resisantance.
-Signal Candle (5th n 7th June candles are white dot, which is more than 5% move with 1M vol) suggesting big players are buying. Retailer buyers cant create such volumes.
If it breaks this resistance level. with good vol (basically more than 10 day avg) then can expect good move.
No buy/sell recommendations.
EQUITAS SMALL FIN BANK - Picture perfect 'W' setup w/ 40% upsideOverview & Observation:
1. Double-bottom formations.
2. Moving with W Demand.
3. EMAs support taken confirming the up trend momentum.
4. RRR is favourable
Trade Plan:
1. Entry = Marked blue line
2. SL = 6-7% Marked red line
3. TP = 40% Marked green line
- Stay tuned for further insights, updates and trade safely!
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
WTICAB - 3 Months Consolidation Breakout Wise Travel India Ltd
1) Time Frame - Daily.
2) The Stock has been in a Consolidation since (March, 2024). Now It has given Consolidation breakout & Closed at it's Life Time High with good volume & good bullish momentum candle in Daily Time Frame.
3) The next resistance would be around the price (330 - 18.15% from the price 279.30).
4) Recommendation - Strong Buy.
Multiyear breakout in ARE_M ?There is an upward trend since the beginning of 2023.
The price appears to be consistently above the 100-day moving average, which is a technical indicator that can signal an uptrend.
The trading volume appears to be increasing, which suggests that there is growing interest in the stock.
Kotak: Short term reversal (6 May onwards)On this Daily Chart, we can see that Kotak has made a recent swing low of 1546 on Friday after losing support from its 1650 level. The results were out yesterday and Kotak has announced 26% increase in profits beating the market estimates. This should potentially cause a reversal in price going forward. In the short term, price is likely to touch the 200D SMA (purple line) which also coincides with a trend line (in blue) creating an upside of about 15% from current levels.
Indicators:
1. The EPS chart shows solid growth while the P/E is almost at a decadal low of 16.9
2. The RSI has bottomed out both in the Daily and Weekly
3. The price hit the lower threshold band of Fibonacci Bollinger Band (solid green line) indicating a possible bottoming out of price
4. The price is currently below both the 50D and 200D SMA, indicating short term bearish territory
Risks: The current downtrend can also continue in the next week and the next visible support is at 1450 implying a downside of 6%
Strategy: Given the growth drivers and a ridiculous valuation of the bank, the price is sure to make a reversal in coming days. Watch for the price action on Monday, and based on lower time frame price action, take entry. If the price comes down, towards 1450 levels, it should be used as an opportunity to build more positions instead of thinking about Stop loss and exiting.
Happy Trading!
GNFC Best Swing Idea! 🔥Greetings traders!📈 Today, I'm thrilled to present an intriguing setup on GNFC, showcasing a positional breakout scenario complemented by volume analysis. Here's a closer look at the setup:
📈 Setup: HORIZONTAL BREAKOUT SETUP
🔍 Analysis: Extensive analysis across various timeframes confirms the breakout potential.
📊 Indicator Support: Momentum indicators are providing robust backing to the bullish momentum.
📈 Keywords: Strong volume participation, comprehensive multi-timeframe analysis, bolstered by momentum indicators.
Stay tuned as GNFC gears up for potential bullish momentum! Remember to conduct your own analysis and deploy effective risk management techniques.
#GNFC #VolumeAnalysis #TechnicalAnalysis #TradingView #StockMarket 🚀
Falling Knife stocks-How to identify them?I have discussed in previous post about what exactly falling knife stock is with a case study.
The next question would be how would an investor know that stock is a part of falling knife category?
To identify such stocks, I feel you should know about 2 concepts/indicators which are Moving averages and Fibonacci retracement. I will try to make you understand these concepts and also the levels where averaging/investing can be started.
1. Fibonacci(Fib) is a mathematical concept which governs the entire universe, even our stock markets. I can't explain the entire scientific concept here so just sticking to stock market.
Fib retracements help investors identify support and resistance for stock. There are 2 golden ratios which every investor must know, 38.2%(0.382) and 61.8%(0.618).
When a stock is in uptrend, 38.2% is the level where most stocks retrace upto. 61.8% is considered as last ray of hope for bounce in retracement. Any stock which has fallen below 61.8% is considered weak.
2. Moving averages(MA) are indicators which are continuously changing with moving stock market. These are an average of prices over a time period, hence Time frame is important.
There are many types of moving average, we use mostly simple and exponential.
When I say 20 Day EMA, it is Exponential average of 20 days of closing price of stock or when I say 200 week SMA, it is simple average of 200 weeks closing price.
Exponential is more used than Simple moving average which has scientific reason behind it so if you are curious, you can search for it.
200 Week moving average is considered as last ray of hope for investment. A fall below 200 Week moving average or 50 Month EMA indicates strong bearishness.
3. I have seen stocks reach from top to bottom and top again. Tata motors, HDFCAMC being few famous examples. Even, Most of real estate, PSU banks stocks are reversing. So, equity is beautiful, wild and highly unpredictable. However, A stuck investor should wait for monthly closing above 61.8% to start averaging in such stocks. Also, a closing above 200 Week EMA will slightly indicate return of bullishness and that's where reversal traders should think of investing
I feel this much knowledge is enough for now. If you have got some enlightenment from above information, lets apply this knowledge on one stock where I know many many investors are stuck, Rajesh Exports.
How do I know? I saw the shareholding pattern and that's where I was shocked to see the number of shareholders increase from 45000 odd to over 2 lakhs in the past 9 months!
Starting with fundamentals, Rajesh Exports Ltd is 4 decade old manufacturer of Gold and Gold Products available at a PE of around 9 and sales growth of 20% in last 3 years. All the ratios feel nice to me except the operating margin which is below 2% consistently which has led to drop in EPS which is major concern in the stock.
Technically, stock had a 52 week high of 1030 in Feb 2023 and it is now available at 360 odd which is more than 60% wealth destroyed. And as I said, the number of shareholders have grown 5x in the same time. (Note that FII, DII holding has reduced in same period).
If i see now from a non-investors perspective(psychology explains that investor can never see the bearishness), the stock has formed a beautiful double top and broken its neckline which was 61.8% of fib retracement all ready for a further fall and I see no support till 270-300 zone(sorry investors). It is also below 200 week moving average-red wavy line(if you check monthly chart, it is below 200 month moving average as well). A perfect example of Falling knife.
What next? If I were an investor, My last SL would have been 525 which is 50% retracement. Since, the stock is below 61.8% retracement , there is no chance of averaging at this moment. Hence, I feel investors should wait & watch until stock moves above 440 before averaging/entering. Don't jump in it. Wait for a big bullish monthly candle before averaging.
Also....
As promised,, I am sharing you names of stock which i have identified to be part of this unloved category. As an homework, do check fundamentals and reversal levels based on what we have discussed above.
The stocks are GRINFRA, TCNSClothing, Metropolis, Luxindustries, Polyplex, HLEGlasscoat, Deltacorp, Barbequenation.
If you are a curious investor, even you can find such stocks and do let me know in the comments below.
I would like to discuss any doubts regarding the concepts, idea or anything related to stock market so feel free to comment.
Keep investing, keep minting. India has a very big future ahead so these are the best few years to invest in India.Be a smart investor because it is important that you choose the right stock to meet your financial goals.