534 is my stop loss!
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
After making a bottom at 440 levels, I think Apcotex has begun its Wave 5 uptrend. I expect this wave to continue till the price reaches 690 levels. The stock has nicely taken support at the 200 Week EMA in the past and reversed from there. It seems to have done the same this time also. The stock has closed above the 20 Week EMA today. If it holds above this level...
The share has seen a repetitive sequential of session highs and lows (time range 3-6 months), forming two new highs- B in the chart after every low A in the chart.
As this is followed we see a predictive range of 595 - 1st Resistance and the 2nd B(Resistance) - 658
Time period - 3 -6 months
Apcotex is showing a trend repetition (Ref - yellow lines), forming a bull angle of 30-45 degrees, a similar trend will be continued in the future as we have seen a similar downtrend(Green line) at an impact at a low of 504, such that it will give a bull rise to 644 in the long term, a sell off noise will be see in the short run
in weekly, cup and handle pattern formed , breakout happened with good volume, pattern tgt - 562, sl - 370.
in daily, price closed above upper bb(big green candle) with good volume, and bb is expanding - sign of bullishness,
Very good bounce back from recent correction. Closed at 400 on 11th August Friday. May test 420-450 levels , Closing basis support should be seen at or below 398.
