RADIOCITY trade ideas
RADIOCITY LONGElliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), (iv) and (v) downside. Currently, the stock is undergoing correction wave (a), (b), and (c) in a daily time frame.
Wave (a) and (b) in blue colour are finished and the stock is currently in wave (c).
Wave (c) will unfold in five sub-waves shown in red colour on the chart.
Wave levels are shown on the chart.
A double bottom pattern is formed on the chart. (The double Bottom
pattern is a bullish reversal pattern).
Level of Invalidation
The starting point of Wave (a) has been identified as the invalidation level at 9.70. Because as per wave rules Wave (b) cannot retrace more than 100% of Wave (a). If the price falls below this level, it can indicate that the expected Elliott Wave pattern is not as it seems.
I am not a registered Sebi analyst. My research is being done only for academic interests.
Please speak with your financial advisor before trading or making any investments. I take no responsibility whatsoever for your gains or losses.
Regards
Dr Vineet Jain
Getting bullish 06 Feb 2024
Major res around 27.5 and point of caution
CCI ABOVE 100
RS ok and improving
HH & HL formation
Strong volumes
Music Broadcast (Radio CITY)Price has been consolidating for a long time once breech 27.6 on closing basis
Entry should be above 27.6
weekly closing above
SL at 21 WCB & MCB above $47 then final target is of 81.8, after that clear sky
this is for study propose only. I am not SEBI registered.
DIS- Invested
Music Broadcast 1wtfLook like a good penny stock pick of an upside target of 25.45 then breaks above moves to 27 then 28.5
RadioCity - Investment StockBuy above 26, stop loss is 23 for the targets 34, 48 and 56. Duration : One year.
Note : Consult your financial advisor before investing.
An Opportunity that is Technically Very StrongMusic Broadcasting company looks technically very strong for a short term target of 50% and a medium term target of 95%.
The script gave a cup and handle breakout supported by huge volumes.
However, on the business front, though the company has been acquiring market share from its competitors and performs way better than industry average, the financials seem to be in a negative trend which is a sign of caution for investors.
Technically strong but Fundamentally moderate or weak and hence the choice is yours.
#TradeTheTrend
A True Multibagger Oldest Radio StationAmazing structure where 50 DMA has taken over 200 DMA, with less Debt and High Promoter share holding with the backing of Jagran, i expect this counter to move atleast 30% from here which should take this counter to 32 in near term.
So much volume in this nachosJust learnt to draw lines and circles few days back.
So drew couple of lines here.
Just ignore and continue scrolling.
RadioCity - 2019 ElectionsFM earns for Free, Gather Reputation without any Expense Downsides : World War 3 or May Management Goes Greedy nothing else
think & reply if downsides found
*Note: This is personal opinion not recomendation
