Stockmarketindia
FACTS: Sharing facts!FACTS is in a flag pattern and expecting it to double from the CMP. If it dips a little we can average at the nearest support. Targets are mentioned on the trendlines.
NOTE: I'm not a SEBI REG. Study before investing.
BATA India Long setup ReadyLong bata india between 1420-1425. There is a very high probability that the stock will bounce back from the support level. Also, a bullish engulfing candle can be seen on the chart. Risk to reward is awesome in trade. Once stock starts trading above 200 EMA we can trail the SL. Add the stock in your watch list. This is for your educational purpose only.
Ashoka Buildcon long setup readyClearly, on the 2-hour charts, we can see the Ashoka buildcon . Can take a long entry above 238 once the breakout of the marked trend line. Watch every time stock touches the 200 EMA level it bounces back with good price action. please keep the stock on your watch list. Good risk to reward trade.
West Coast Paper for 100% riseWest Coast Paper Mills is currently India’s 3rd largest paper and paperboard manufacturing company which also owns (72.3% in) Andhra Paper, another listed paper manufacturer. West Coast has revenues of 4200 cr and market cap of 3900 cr. Its ownership in Andhra Paper itself is worth 1500 cr presently. So all of WCPML is available at a valuation of 2400 cr. Can it double from current levels (588)? The chart says it all.
The stock is in the final stages of large wave IV that began in October ‘23. There is a possibility of one final move down towards 525-540 levels if there is one. Wave V can very well take it to 1000-1200 levels which can be worked out later after further moves. Can these levels be achieved in a year or less?
First target of course is ATH of around 800.
THRYOCARE: Inverse H&S BreakoutPrices have given a breakout of the neckline of Inverse H&S formation. The measured target of the pattern is coming in the range of 1200-1300.
EKC: BO soonEKC is in a triangle and near it's resistance. Targets: 180-215-240-260. Invalid if closes below the triangle
NOTE: I'm not a SEBI REG. Study charts before investing.
PARACABLES: Triangle BO neededPARACABLES is hovering at the support and it can consolidate for a few days and it can jump from the support. Targets are marked on the trendlines. If someone requires a SL in Cash stocks then you may follow DCB (daily closing basis) below the triangle.
NOTE: I'm not a SEBI REG. Study before investing.
Rites - Symmetrical Traingle.Time Frame : Weekly
### Technical Analysis:
1. **Symmetrical Triangle Pattern**:
- The chart shows a symmetrical triangle pattern, which is a consolidation pattern that usually leads to a continuation of the previous trend.
- The price has recently broken out of the triangle, indicating a potential bullish move.
2. **Price Movement**:
- The breakout has occurred with a significant move upwards, indicated by the large bullish candle.
- The projected target from the breakout is around 1052.65 INR, which is a 42.34% increase from the breakout point.
3. **Volume**:
- The volume has spiked during the breakout, which adds credibility to the breakout. Increased volume during breakouts generally signifies strong buying interest.
4. **RSI Divergence Indicator**:
- The RSI (Relative Strength Index) is at 58.50, which is in the bullish territory but not overbought.
- There is a noticeable bullish divergence in the RSI, where the price makes higher lows while the RSI makes lower lows. This often precedes upward price movement.
### Conclusion:
- The symmetrical triangle breakout, coupled with increased volume and RSI divergence, suggests a strong bullish outlook for RITES LTD.
- The price target based on the height of the triangle adds to the potential for a significant upside.
- Traders might consider entering a position on a pullback to the breakout level or a continuation of the current trend.
𝑾𝑯𝑬𝑬𝑳𝑺𝗕𝗿𝗲𝗮𝗸𝗼𝘂𝘁 𝘀𝘁𝗼𝗰𝗸𝘀 𝘁𝗼 𝘄𝗮𝘁𝗰𝗵 𝗻𝗲𝘅𝘁 𝘄𝗲𝗲𝗸
⬇️
𝟰. 𝑾𝑯𝑬𝑬𝑳𝑺
Trendline breakout and retest on weekly timeframe
