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MAYUR UNIQUOTERS LTD.MAYUR UNIQUOTERS LTD.MAYUR UNIQUOTERS LTD.

MAYUR UNIQUOTERS LTD.

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MAYURUNIQ trade ideas

NAVIGATING MAYURUNIQ THROUGH ELLIOT WAVES AND CHART PATTERNElliott Wave Analysis of MAYURUNIQ (1W) on BSE Overview This detailed Elliott Wave analysis covers the price action of MAYURUNIQ from 2004 to the present. The analysis includes the primary wave cycle from 2004, the subsequent correction, and the ongoing current wave structure. Larger Cycle Analysis(0-I) (2004 - 2018) ) 1. Initiation of the Big Cycle (2004 - 2019): - Wave (1) : Began in 2004 at a price of approximately 6.00 INR and peaked around 220.00 INR in 2011. - Wave (2) : A corrective phase from late 2008 to early 2014, retracing to around 118.00 INR. - Wave (3) : A strong bullish wave from late 2014, peaking around 520.00 INR in late 2015 - Wave (4) : A correction from late 2015to early 2017, reaching a low of approximately 320.20 INR. - Wave (5) : The final upward push from early 2017, peaking around 560.00 INR in 2018 Corrective Phase (2018 - 2020) Following the completion of the primary wave (V), a significant correction phase(I-II) ensued: - Wave a : Declined from 560.00 INR to around 350.00 INR. - Wave b : A recovery to approximately 450.00 INR. - Wave c : Further decline, reaching the low of around 118.20 INR in early 2020. Current Big Wave Analysis (Wave II-III)) The bigger wave III comprising of 5 primary waves 1-5 marked in blue. 1. Initiation of Current Wave (III) (2020 - Present): - Wave (1) : An initial upward move from 118.20 INR (bottom of c) in early 2020 to approximately 630.00 INR by late-2021. - Wave (2) : A corrective wave retracing to around 330.00 INR by mid 2022. - Wave (3) : An extended bullish wave from 330.00 INR, currently in progress, and expected to reach higher levels, possibly around 1050.00 INR. - Wave (4) : An anticipated minor correction after Wave (3) completes, potentially retracing to around 800.00 INR. - Wave (5) : The final push of the current primary wave (III), expected to peak around 1200.00 INR. Detailed Sub-wave Analysis within Current Wave (III) 1. Intermediate waves of Current Primary Wave (Blue 2-3) - Wave (1): From 330 INR in mid 2022 to around 580.00 INR by earky-2024. - Wave (2): A corrective phase down to 454:.00 INR. - Wave (3): A strong bullish move from 454.00 INR, currently in progress, and expected to reach around 960.00 INR. - Wave (4): An anticipated corrective wave, potentially retracing to around 800.00 INR. - Wave (5): The final push of the current primary wave (III), expected to peak around 1000.00 - 1050.00 INR. Completing the primary waves 3 of III Key Support and Resistance Levels 1. Support: - 319.20 INR: Previous significant low. - 454.00 INR: Recent corrective low. 2. Resistance: - 1000.00 INR: Target for current Wave 3 and psych level. Volume Analysis - Increased volume during impulsive waves (I, III, V) and lower volume during corrective waves (II, IV), consistent with Elliott Wave principles. Future Projections 1. Completion of Current Wave (III): - Wave (III) is expected to peak around 1000.00 - 1100.00 INR, followed by a corrective Wave (IV). 2. Corrective Phase Post Wave (III): - Anticipated correction phase (Wave IV) post the completion of Wave (III), retracing a portion of the gains made during the current wave. 3. Projection of Final Wave (V): - Following the corrective phase, Wave (V) is expected to resume the bullish trend, potentially targeting higher levels beyond the current wave (III) around 1200 HEAD AND SHOULDERS ANALYSIS Overview The Inverted Head and Shoulders pattern is a bullish reversal formation that indicates a potential shift from a downtrend to an uptrend. This analysis will identify and evaluate the Inverted Head and Shoulders pattern observed in the MAYURUNIQ chart. We will examine the formation of the pattern, including the left shoulder, head, and right shoulder, and analyze the implications for future price movements. Identifying the Inverted Head and Shoulders Pattern 1. Left Shoulder: - Formation started in early 2015, with a trough around 340.00 INR. - Followed by a rise to approximately 570.00 INR, forming the peak. 2. Head: - The head formed as the price declined from the peak of the left shoulder, reaching a low of around 119.30 INR in early 2020. - After reaching this low, the price again rose, forming another peak around 630.00 INR. 3. Right Shoulder: - The right shoulder began forming as the price moved down from the 630.00 INR peak, reaching approximately 320.00 INR. - Followed by a rise that didn't reach the head trough, confirming the right shoulder formation. Analysis of the Pattern 1. Neckline: - The neckline is drawn by connecting the peaks of the left shoulder (around 570.00 INR) and the head (around 620.00 INR). - This trendline acts as a resistance level during the formation of the pattern. 2. Volume Analysis: - Volume typically increases during the formation of the right shoulder compared to the head, indicating strengthening momentum. - A breakout above the neckline usually occurs on increased volume, confirming the pattern and the reversal. 3. Breakout Confirmation: - The pattern is confirmed if the price breaks above the neckline with a significant increase in volume. - The target for the breakout is typically measured by the height of the head from the neckline and added to the breakout point which is coming out to be similar that by Elliot waves analysis Implications for Future Price Movements 1. Bullish Reversal Signal: - The Inverted Head and Shoulders pattern indicates a bullish reversal. If confirmed, it suggests that the prior downtrend (from 560.00 INR to 118.20 INR) is ending, and a new uptrend has begun . 2. Price Target Calculation: - Height of the pattern is approximately 440. INR. - Projecting upward from the breakout point, the target would be approximately 660.00 INR + 440.00 INR = 1100 INR approximately 3. Invalidation Point: - The pattern would be invalidated if the price breaks below the right shoulder trough (around 320.00 INR) with significant volume, suggesting that the downtrend may continue instead. Conclusion Both Elliot wave analysis and The Inverted Head and Shoulders pattern observed in the MAYURUNIQ weekly chart signals a potential bullish uptrend ahead reaching Levels of 1000+. Traders should watch for increased volume during the breakout and use the projected price target to inform their trading decisions.
BSE:MAYURUNIQLong
by Taga_woj
Mayur Uniquoters : SWing Trade#MAYURUNIQ : #Breakout Candidate >> #Trending Setup >> Flag Structure >> Good Strength & Volume Contraction >> Low Risk High Reward Swing Traders can lock 10% profit & keep trailing Please give a Boost or comment if u r Liking the analysis & Learning from it. Keep showing ur Love by following Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
NSE:MAYURUNIQLong
by moneyfesttrading
MAYURUNIQ | Swing Trade📊 DETAILS Sector: Textiles & Apparel Mkt Cap: 2,483 cr Mayur Uniquoters is primarily engaged in the business of manufacturing of Coated Textile Fabrics, artificial leather and PVC Vinyl which are widely used in different segments such as Footwear, Furnishings, Automotive OEM, Automotive replacement market, and Automotive Exports. TTM PE : 22.00 (High PE) Sector PE : 61.26 Beta : 0.22 📚 INSIGHTS Strong Performer Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation 5.50% away from 52 week high Underperformer - Mayur Uniquoters up by 6.28% v/s NIFTY 50 up by 8.39% in last 1 month 📈 FINANCIALS Piotroski Score of 9/9 indicates Strong Financials Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:MAYURUNIQLong
by Munish_Jain
📈 Exciting Bullish Pattern Alert! 🐂📈 Exciting Bullish Pattern Alert! 🐂 📊 Pattern: Rising channel 📌 Symbol/Asset: MAYURUNIQ 🔍 Description: Stock is trading in a multiple channels and now trading in a rising channel. If we see breakout then more upside is possible. 👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
NSE:MAYURUNIQLong
by FiveCircles
VCP breakout + Flag continuationTechnical View : Mayur Uniq gave a breakout from 4 legged VCP with excellent volumes recently. After breakout, it made a pole and flag pattern, with 18% pole size. If the flag breaks with good volumes, this can be considered a continuation pattern. Fundamental View : It is a leading player in organized leather industry with 60% revenue from Auto sector, which has been doing excellent lately. Strong sectoral tailwinds with 18% Revenue CAGR guidance on improving margins further reinforce the continuation thesis. Strategy : Have added a test buy position, and will scale up if breakout sustains. Keeping a close stop loss is crucial in case pattern reverses. Disclaimer : It is not an investment advice, only for sharing how I view setups and decide how/when to enter/exit. Please do your own research. Thank you for reading :)
NSE:MAYURUNIQ
by Aayush_Rungta
MAYURUNIQ --- setup appears to be strong and worth exploring The setup appears to be strong and worth investigating; one can research this setup and potential gains from this stock. cmp is 534.80 it is on the verge of breakout and above 570 it will do wonders This analysis is being done for educational and knowledge-sharing purposes. This article does not offer any kind of buy or sell advice. All stocks are positional and are held for a short to medium period of time. Everyone is expected to conduct their own research and analysis to determine whether my point of view aligns with yours.
NSE:MAYURUNIQLong
by ajaykalashi