Get started

Retest

Unlocking Potential: A Deep Dive into Elecon Engineering's ChartWelcome to today's analysis of NSE:ELECON , where we explore a compelling trading scenario fuelled by recent stock activities. 📊 The Breakout Story Elecon Engineering hit a record high in its previous Friday trading session, breaking past its former resistance with impressive volume. The surge was marked by a robust breakout candle, signalling strong buyer interest. Following this significant high, the stock opened the today with a sizeable gap up. Interestingly, the subsequent movement saw the stock retrace downwards on notably lower volumes. This behavior is typically indicative of a 'retest' of the breakout level. The retest scenario presents a potential buying opportunity at a specific demand zone identified on the 15-minute timeframe. This strategy focuses on the Rally-Base-Rally pattern, suggesting a tactical entry around 1130. 📈 Strategic Trade Setup Entry Point: The proposed entry is at the Rally-Base-Rally demand zone, calculated around the 1130 level. Stop Loss: A stop loss is advised at a 3% decrease from the entry point to limit potential downside. Profit Target: The initial target for taking profits is set at a 10% gain from the entry level, offering a risk-reward ratio of over 1:3. Management Strategy: To maximize gains, a trailing stop loss is recommended, which allows profits to run while safeguarding against sudden downturns. 📉 Recent Financial Highlights Elecon Engineering has recently announced its consolidated financial results for the quarter ending March 2024: Net Sales: Rs. 564.62 crore, a surge of 32.99% compared to Rs. 424.54 crore in March 2023. Net Profit: Rs. 103.65 crore, up 52.55% from Rs. 67.95 crore in the same quarter last year. EBITDA: Rs. 148.40 crore, reflecting a growth of 47.43% from Rs. 100.66 crore in March 2023. These financial metrics not only reflect a robust growth trajectory but also bolster the stock’s attractiveness in the eyes of potential investors and traders. Lastly, Thank you for your support, your likes & comments. Feel free to ask if you have questions. 🌟 “Every day is a new opportunity to reach that goal.” 🌟 This analysis is purely for educational purposes and does not constitute a trading or investment recommendation. Please note that I am not a SEBI registered analyst.
NSE:ELECONLong
by AfnanTAjuddin
🎯 Unveil the power of Demand Zones with ACE! Catch the wave📊 Fundamental Key Points: Action Construction Equipment Ltd engages in manufacturing and marketing hydraulic mobile cranes, tower cranes, construction equipment, and agricultural machinery. The company offers a diverse product portfolio to meet various customer requirements. Financials: Market Cap ₹17,094 Cr, Current Price ₹1,428, Stock P/E 61.7, ROCE 26.2%, ROE 18.8%. Pros: Debt-free status, expected good quarterly performance, consistent profit growth of 24.9% CAGR over 5 years, improved debtor days. Cons: Trading at 16.4 times its book value, decrease in promoter holding over the past 3 years. Peer Comparison: Compared to peers in the Capital Goods sector, ACE shows favorable metrics like ROCE at 26.17% and solid profit growth. Quarterly Results: Dec 2023: Net Profit ₹88 Cr, EPS ₹7.41, reflecting positive growth trends over the quarters. Balance Sheet: Shows steady growth in assets over the years, with a well-managed debt profile. Shareholding Pattern: Promoters hold majority stake, with FIIs and DIIs showing consistent interest over time. *️⃣ Understanding the Basics - Technical Analysis First, let's break down some key terms you'll encounter in this analysis: RBR Zones (Rally Base Rally): This pattern signifies an upward price movement, followed by a period of consolidation (stabilization without significant price changes), before another upward movement occurs. Demand Zone: A price area where buyers tend to enter the market, causing the price to increase. Bullish Pin Bar Candle: A type of candlestick that indicates a potential reversal of a downward trend to an upward trend. 📈 In-Depth Analysis of ACE ACE is currently trading in a very significant area, known as a Demand Zone. This zone is not just any area on the chart; it's a powerful RBR Zone formed on both the daily and weekly charts. Here’s why this is crucial: The formation of the RBR zone was followed by the price reaching all-time highs accompanied by high volume, showing strong buying interest. Currently, the price has retraced back to this zone, accompanied by low volume, which could mean a potential reversal or continuation of the upward trend. Yesterday's price action closed with a Bullish Pin Bar Candle right at the Demand Zone, which often signals a turning point. 💹 Key Trading Strategy For those looking to trade ACE, here’s a straightforward approach: Entry Point: Current Market Price (CMP) at 1428. Stop Loss (SL): Below 1340, to protect against unexpected downward movements. First Target: Aim for 1600 as an initial profit target. Risk Management: Consider trailing your stop loss to lock in profits as the price moves favorably. Disclaimer: This analysis is for educational purposes only. I am not a SEBI registered analyst. Please do your own research or consult a financial advisor before making investment decisions. Concluding Thoughts Thank you for your engagement and feedback. Remember, trading is a journey of continuous learning and application. Feel free to ask questions or share your thoughts on this analysis! "In trading, as in life, the risk you take is a measure of the success you seek. 🚀"
NSE:ACELong
by AfnanTAjuddin
LT- A bullish pattern & AnalysisHi, I bet most of you would be familiar with this pattern and some of you might have even traded it. I would still not name it here and look for your answers in the comment section below. Action near resistance zone You can see that the stock has been in a strong uptrend but faced a resistance near 3700 zone or level A(see chart). Observe heavy volume gap down in January from this level and the stock took almost 2months to finally get through 3700. The second reaction The stock reacted for the second time from 3700 in the first half of March but could not break the low B. Rather it made a higher low C and then broke out of A. Retest of an important zone The stock is pulling back to 3700 to test if any supply is still there. If 'holds' here, we can expect 4000 or 5000 psychological level or may be higher if there is overall market support. Another simple method used by most traders is to measure the height of this pattern, that is from A to B and then add the number to A. This will give a probable figure 4150-4200. Simple is not always easy Hold near 3700 means a bullish candle, which should be enough to take the trade. It could be a Doji, Hammer, Marubozu etc. Bearish Scenario The opposite scenario could be that the price pushes strongly below 3700 again, which might turn the tables for a bearish action. #For any bearish opportunities, one should wait for price to actually trade below C and then show further weakness (weak pullbacks etc. on the upside). I hope this idea added to your knowledge. Don't forget to press🚀 and name the pattern or your experiences with this pattern below💬 Enjoy the new chart type (Volume candles) on TV⚡
NSE:LT
by Bravetotrade
17
📈 Analyzing JINDWORLD Stock Breakout JINDWORLD has recently exhibited a significant breakout of its falling trendline accompanied by substantial trading volumes on 28th February 2024. Currently, the stock is hovering around a level that previously acted as a resistance. Interestingly, the stock retraced to test the breakout level with notably lower trading volumes. 📊 Key Points to Consider Examination of the company's income statement reveals a trend of declining profits over recent quarters, which contributed to the downward pressure on the stock previously. However, in the last quarter, the company managed to increase its profit compared to the previous quarter, potentially acting as a reason for the breakout. The breakout of the falling trendline occurred with significant trading volumes, indicating strong momentum behind the move. The current trading level coincides with a previous resistance point, now potentially serving as a support level. This retest of the breakout level presents an opportunity for traders to plan trades with a favourable risk-reward ratio. Traders should closely monitor how the stock behaves around this key level, as a decisive hold above it could signify further upside potential. Conversely, a failure to maintain support at this level might suggest a false breakout scenario, warranting caution. "In trading, every setback is a setup for a comeback. Stay resilient and keep learning from every trade!" Lastly, thank you for your support, your likes & comments. Remember, this analysis is for educational purposes only and not intended as a trading or investment recommendation, as I am not a SEBI registered Analyst. 🚀
NSE:JINDWORLD
by AfnanTAjuddin
EXIDEIND | Weekly Chart | 5.5years Multiyear BO | ATH BOChart analysis in Weekly time frame: Pattern: Basing pattern is formed in 5.5 years. Breakout: BO of ATH and Basing pattern and re-test of breakout is also performed. Volume: Volume spike is there during BO and the volume is above Moving Average. Trade setup: Entry price: 345.7 Stop loss: Below previous ATH 304.7 Target 1: 369.3 Target 2: 407.55 Target 3: 469.4 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
NSE:EXIDEINDLong
by SanjogY
GREENPANEL Buy Above 405"Delivery Idea 22-01-24 GREENPANEL (CMP: 393.3) Buy Above: 405 SL Below: 380 Target: 455" Stock has Swing BO on Dated 28-12-2023. Now Same level has retest and take Support at Swing High. If Stock again Move Back on 20-01-2024 High, then take Entry. Disclaimer: Content shared through our digital media channels are for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:GREENPANELLong
by easi2invest