EMAMI results were quite decent and right after the results the stock is showing some signs of reversal. Enter with limited qty to accumulate a little in the coming days.
NOTE: I'm not a SEBI REG. Study before investing.
Emami After Covid Fall rose in 5 move structure and then down 3 move structure then rose to 81 % level from last important High. Now took support of Golden Ration level from last rise Above 461 this will lead to 580 so have a close look
In the Weekly Chart of EMAMILTD ,
we can see that, it has started to be bullish with strong candle.
let it create a Halt candle the range and then enter with SL and Target
Expected momentum is shown in chart.
What a Chart !!! Its a very good Investment stock for upcoming years and it may give multifold returns....The reason behind this idea is the pattern which i have marked in chart where stock is formed multiple wave 1 and 2 and it may bounce sharply to justify the personality of wave 3.
1. Rising upward channel formation.
2. Huge volume momentum occurred at Resistance level to support breakout.
3. RSI trendline breakout.
4. Suggesting Short term or Positional buy call.
5. Better entry after Super trend bullish confirmation.
6. Target next Resistance level.
Happy trading.
Stock completing wave 4th correction & ready to reverse for wave 5th. Entry, SL & target mentioned on chart. Applicable, Add on position also marked on level (on Day Closing basis).
Logic: Inverted head and shoulder formation in weekly chart
Weekly closing above 630 will be a confirmation of breakout
Levels mentioned on chart. FMCG sector has started to gain momentum.
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And a happy new year to all my viewers. Hope you all have a prosperous & profitable year ahead!
