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Reversals

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
NSE:BUTTERFLYLong
by Stock-n-Shine
7
Bank NIFTY's direction and price for Aug-01 contract 1. We can see a sharp reversal in last 2 candles, speculated to go Bullish (at-least short-term) 2. Bulls are being supported by 1SD Bollinger Bands, you can see how the prices breached 1SD BB, this will eventually go back to the mean, it is possible only by moving in upward direction. 3. Second confirmation is Harmonic Patter, it is a solid Bullish Harmonic. 4. Again, it might turnout to be a short-term bullish, because, overall strength is still retained by bears. 5. If it is going to be bullish, the what will be the resistances, we can pick the resistance levels from previous price actions, but I chose variances @29600 before expiry and @29900 on Expiry.
NSE:BANKNIFTYLong
by santhoshmurali