Indiamart appears to have broken through its trend-line after couple of months of consolidation... If it stays above Rs. 5000, it's probably gonna be safe to add more.. Still 4% below the important Pivot level of Rs. 5487 (all time high)... Needs to break that too.. good time to accumulate more now and then... with stop-loss.
Euro against USD looks bullish in long term , but when it comes to short term it looks to pullback from 1.20 area at the end of the 2nd week of Decemeber...
In Daily chart,
The price is following the trend line.
The price is in a consolidation state in between the levels shown.
LTP is holding Monthly-Central Pivot Point
In 4hr chart,
For Buying, wait for the LTP to break the Fractal @2731 (Buy above 2736) - TP @2811
If the price breaks the bottom level, sell below 2604 - TP @2540 - Gap Fill Trade Opportunity
The...
How to determine the target after T-Bar ?
By utilizing Fib. Retracement, target can 38.2% first and 61.8% second. There's also important how to ride your profit which depends on many factors such as trailing SL, Volume, etc.
Targets are 227.55 and 211.75.
My previous work on this stock :
SOLD: (247-249): - I have activated to sell in TimeLine...
The following parameters are measured:
"B" is less than 61.8%
2.61.8 BC projection @ 243
1.618 AB = CD at 237.5
1.27 AB = CD at 226
1.13XA retracement already done.
Reversal target can be utilized as 218 OR 226 ?
Reversal zone 243 or 237.5
11 week base which was broken today with pocket pivot on strong volume.
Promoters increased stakes 4% in last 2 quarters.
50 DMA is holding.
Gave some shakeouts in the base making it highly probable.
From Reversal point "D" , the price has traveled as expect 226 and another 218 (low made 220)
Still valid pattern 238 and 243...
Look at Previous researc h:
