heading towards 1250-1500
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is...
I am posting this chart so that we can trade this opportunity in future. I.e. Learning from the past and implementing in future.
Just look at the chart pattern, it looks like a bearish "flag" in 1 hour timeframe. Just look at the buying pressure at 1st 1 hour candle.
Well, I am expecting this rally will continue after a retest at the "breakout...
The stock of Symphony has been following a descending triangle pattern. It has a strong demand zone near 800 levels and currently, its looking to give a bullish breakout from the trendline resistance. Next supply zone is around 1200-1220 levels.
The company has also announced a buyback at Rs. 2000/ share. Also, the summer heat might help boost the revenue in Q4...
Engaged in the business of aircoolers. Now in a positive trend. Broken all short term resistance line. Also broken multiyear trend line. Buy back announced . retention of upward movement is impossible. Rally will ends after a maximum of 30% - 50% short term move . Short term candidate.
Symphony attempting to breakout on 1Week timeframe on high volumes. It is trying to break out from falling wedge pattern. It is a pattern within a pattern (Falling wedge in a Triangle Pattern). Go long after breakout confirmation.
Symphony is a seasonal pick wherein the yearly high is generally around April or May (denoted by red arrows). Achieving T2 will break the lower high trend
Little late to the entry, can be skipped if risk to reward isn't favourable
Symphony had given a much awaiting breakout above 1090 which it has tested earlier
two times but faced resistance but now with rising volume it has significantly crossed the level.
Also double bottom is visible which is a reversal pattern and now its a conformation of that.
Both RSI and MACD are showing positive signs and supporting the up move.
In short term...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
A wolfe wave has been spotted in Weekly Time Frame. After the covid fall the Wolfe wave has already activated.
Currently the stock is forming its 2nd Wave. The 3rd wave is yet to be initiated. Hopefully it will take a support from this level to 911 and initiate the 3rd wave. So it's a accumulation zone. One can accumulate from here or after getting a reversal....