BUTTERFLY - PRICE REVERSAL POST CORRECTION OF 64%Hi All,
This idea is about Butterfly Gandhimathi Appliances Ltd
CAUTION: Please keep in mind that FY24 was not at all good for this company and this idea is purely based on technical analysis
Weak Fundamentals
Market Cap - 1500 Cr
Stock PE - 184
ROE - 2.8%
ROCE - 5%
Promoter Holding - 75%
D/E - 0.01
Technicals
Post correction of 64%, price has reached a point where horizontal & rising support meet and price action is showing signs of reversal
This is a weekly chart & therefore time is required in order to reach different targets marked on the chart namely T1, T2, T3
Happy Trading,
Stock-n-Shine
Reversalpatterns
ACCELYA Reversal Trade set up1. Trend: Reversal Trade
2. Set up: Double bottom reversal
3. RR: 1:5+
4. Follow strict SL
KPITTECH 1:9.5+ RR trade set up1. Set up: Reversal
2. Trend Bullish
4. SL lucrative with less then 3%
5. RR 1:9.5+
HDFC 1:18 Reversal Trade set up1. Set up: Reversal from supporting TL
2. SL risky but if trade works out RR will be extra ordinary
3. Set up is risky but with 30% accuracy RR is way to good with such set up
4. If SL hits also, this chart will take SL's and will reversal high probability
Gujarat Gas - Reversal1. R1-R2: Resistance Trendline
2. Entry: 483, SL: 465
3. Triangle Breakout, Trendline (R1) Breakout
4. Momentum & High Volume Setup.
Buy KRISHANA Above 456"Delivery Idea 17-05-23
KRISHANA (CMP: 454.95)
Buy Above: 456
SL Below: 440
Target: 486"
Stock has Reversal Pattern in Day Candle and Trend Breakout and retesting in Hourly Candle.
Banknifty is in bearish trendA harmonic chart is presented here for study purpose
Chart clearly indicates the bearish trend
Various expected levels during its downward move is given in green lines
Variations may be there during its downward move
Natural Gas Retraced near 61.8% !!!!A bearish Harmonic chart presented for the study purpose.
The chart gives the retraced picture.
Reached very near to the Golden ratio.
To show the accuracy of the chart
Tinplate : Inverted Head & Shoulders : 24% Up Side PotentialBuy Entry 200 - 205
Stop loss 168
Minimum Price Target 248
Risk to Reward 1 : 1.50
24% Up Side potential.
The Recent move is supported by Higher Volumes. (Trading volume can help an investor identify momentum in a stock and confirm a trend. If trading volume increases, prices generally move in the same direction.)
