JP Associates
CMP 17.60
Holding 16.40 levels the stock will confirm a higher top higher bottom formation
At cmp & / or on dips towards 17.20 - 16.80 the stock can be looked for
T1 18.60 ( Short term )
T2 21.80 ( Medium term )
SL if closes below 16.30
Review ur trading plan
& plan ur trade accordingly
Take care & safe trading...!!!
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...
The stock seems to be coming out of a HUGE SLUMBER! Needless to say the stock keeps making Higher Bottoms every few months! Can pay off well in the medium to long term! Must be given some attention! Risk appetite must be high for this is a very high beta stock! Invest at your own risk!
Continuing from the last affair where after our take profit; we speculated it to go more up but it fell.
JP Associate showed pin bar formation at daily support zone.
Also, there is a PRZ towards upside thanks to a harmonic butter fly.
Buy with a stop loss at the pin bar's low.
One can take a short position in JP associates with SL at the neck line. We can look at safe options to sell SEPT 20CE which is at .50 RS which has intrinsic value of 34000 Rs.
JP Associates rose suddenly when RJ bought shares but it fell with the Korea Nuke.
Currently, it is forming a bullish butterfly. Our first target is already hit and it is in consolidation post that; we are expecting and upside breakout towards the second target.
Last Price@20.40 11th Aug2017
As suggested in previous update - "Magic of 9 repeats for 30". We shall look for JP Associate to run into pennant zone 18-21. Here we are at 19 -day low@11th Aug2017.
If holds then we look back close to 30 again. Trade carefully. Nifty is melting. Have added latest update to Nifty long term analysis@22nd March2017.
Magic of 9...
The move which goes into my diary for 2017.
What Next?
If you get an opportunity to see JP in the zone 18 -21 the pennant zone & respects . Who knows that could bring short term excitement again for 30+
Close to 9 & we got another killer move for 30
2016 Diary - Up -Up & Away from 7-11
It is in symmetric triangle but price action and indicators have a negative bias.
Could go short on break of yesterday's low.
Everything else in chart.
JP Associates
CMP 22.10
Prima facie looks like has completed it's Impulse 5 Wave
Can come down to 18.50 levels in this corrective phase...
Pattern gets invalidated above 23.50
Take care & safe trading...!!!
Hi fellows
Notice how the volume-spread analysis could help in finding major reversals. The analysis is applicable to all time frames.
Rest notes are on the chart.
Hit like for better posts in future.
Trade safe, stay healthy
Best Regards
Afraidtotrade
