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Trinagle

Bulish Flag & Pole B/O in Z.F.SteeringA bullish Flag and Pole B/O has been seen on the weekly chart of BSE:ZFSTEERING It is als consolidation within the Ascending Triangale also. As per the current breakout structure of flag and p [ole one look in to it to create a fresh position at cmp with a SL 590 for first target of 690. The tragts may be more hisher when it gives the breakout of the Ascending Trinagle. I will update accordingly. Exit the position if the stop lss triggered on Weekly closing basis. The risk reward ratio for the trade is 1:2 and more if ascending triangle breakout happen Expecting a small favour from you to like, sahre and prmote the idea. Your comments are most welcome. The idea is for Educational Purpose only.
BSE:ZFSTEERINGLong
by raigvivek
TIME CYCLES & PRICE STUDYThe correction in HIKAL LTD seems to be done, the wave counting has been mentioned in the chart. Currently the stock is trying to a time wise correction and has consolidated for a time being try to form a rounded bottom structure and taking support on a curve during the correction phase. Interestingly HIKAL LTD has a trading cycle of forming a low in every 88 trading Sessions or roughly 128 to 130 days. Lows has been plotted in Rectangular plots and the time between each low has been plotted using date range in the bottom of the chart. However after the low is formed, the high is formed within 43-46-50 trading sessions ie.60 to 70 days. The expected date for recent low formation was 17th Nov 2022, although the low was formed one month back on 26th Sept 2022 but still the stock was not rallying and lying roughly on the same level. Surprisingly on 17th Nov 2022 the stock made a low near the closing price of 26th Sept 2022 showing a support and the importance of the low formation cycle of 88 trading Sessions. That’s the power of Time cycles . But after 17th Nov 2022 the stock has been forming higher lows and even an Ascending triangle. Isn’t it interesting that after 17th Nov 2022, the stock gives a clearer picture of curved support and also forms an ascending triangle showing bullishness. It’s already been 13 Trading sessions or 19 days over after the Low formation date of 17th Nov 2022 so the stock is expected to do good in the month of December as roughly 40 to 45 days are remaining for the new expected high.A good up move can be seen once the breakout occurs. On a conservative approach using Fibonacci retracement the target stands to be at 416-420 with a SL below 335 on closing basis. But it is always advisable to enter once the breakout occurs and there is a proper confirmation for entry CHART & ANALYSIS ADARSH KUMAR DEY
NSE:HIKAL
by AdarshDey
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