This is a weekly chart of JP Associates.
Applied Fibonacci levels to all time low(5.30) and recent highs(30.40).
Stock seems to be taking support at 10.85 levels which is also 0.786 of its Fibonacci level.
Stock can be sold on a small rally till 11.3 levels with targets of 9.2 Stoploss 11.8.
CAREFUL because JPAssociate can be a volatile stock, trading this can ...
JP ASSOCIATES is showing good momentum and about to end 3yrs of bear market.
buy at CMP 25 stop will come at 20 RS but if invested long can go to 29-36-49. its a positional buy.
NOT A SEBI CERTIFIED ANALYST. PLEASE TAKE FINANCIAL ADVISOR HELP BEFORE INVESTING.
Aggressive traders can enter now (Monday) at around Rs. 20 as the price is re-testing the Neckline. It's also the .382 Fibonacci Retracement of the Right Shoulder.
More conservative traders can look to sell around Rs. 21 to get the best price as it is the .618 Fibonacci Retracement of the Right Shoulder. You also get a better Risk : Reward by entering late but ...
Given channel breakout on daily chart & about to re-test the trend line.
On the other hand, A Shark ( Harmonic Pattern ) is on the making & it may be a good trade if we can get it around 11.5 to 12 ( if price action supports).
Stop loss would be below the green zone & Targets shown in the chart.