Intraday Resistance 11584 nearby. The price rotation is show with yellow box in where war started between buyers and sellers.
Outside of the box, there are lot of chance to spike downward.
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Fundamentally: Strong and Undervalued
Debt to Equity: 0.04
Consistent profit growth of 51% for last five years.
Stock shall move upto 2-3 times of it book value, indicating a price range of 550-750 in coming year ahead.
Technically: Recovery from downtrend
Positive Divergence observed on the chart, indicating an upside from current...
the stock had seen a good fall from past couple of days and hads successfully filled the gap , while other stock like icici sbin kotak may witness a fall , this along with hdfc bank and rbl bank can give a good upside retracement.
Currently, the price action failed to cross above the initial resistance level of 6650-6670 (indicating continuation of prevailing down trend) and came back down to test the previous strong and crucial support. Now, if the price action got further weaker then it may break the crucial support range and goes further down to 6000 levels. It shall be the continuation...
There is excess which i alway prefer to trade. An excess is at value high therefore i suggest you to short this stock at higher level such as 680 nearby.
This is holding call for 10-17 days for target 638-607.
Stock has taken support @ 200 EMA multiple times.
Previous Resitance Providing Support.
Again Trading in Buy Zone.
Trial SL Once In Profit. Final Support @ 531.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Buy ITC 268 above is not worry for target 278 nearby and if the cross and close above 278... then spike up to 286-292.
This stock is really good for investors. Let me show you the daily chart with projection.
The chart is showing frequency at the down sloping PF. The prices broke the UML and came back again start trading below it. It may have shaken the weak traders today and may fall till ML. It offers a good opportunity to trade it with small SL with risk and reward ratio of above 4.
Entry current Price 250
SL 254 closing
Risk/Reward Ratio 4.3
1. Ascending triangle formed..
2. If it breaks 2nd Target & the channel then it will go up to 2571 which is 3rd Target...2571.25 as per fibnocci..
Retracement taken perfectly in every correction as per fibnocci....
Hi viewers , I am new for technical analysis.. if anything u find & if anything I left out ... pls update.. also please update if anything I wrongly...
This value area channel has completely in tight trend.
Support at 30234 nearby exists which can react with smaller penetration.
There is require big -ve new to break this channel, therefore I am thinking for U-Turn nearby the support.