Chart -> Venkys Daily
Ascending triangle breakout with volume pin bar in Venkys.
CMP: 1733
Good Range: 1650 to 1730
Targets: 1800, 1935, 2130
SL: 1600 Daily Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
When a company's share price is near weekly or monthly, resistance or support eventually ends some good or bad things happen in the company. But as a Trader, we must take risks and be alert when the price goes below our risk.
Right now Venky's India is at nearby weekly strong support. Technical indicators give the signals.
1. Fin level 0.618
2. RSI negative...
The stock has cancelled a long correction of about 6 months in just 2 days. The stock looks very bullish, be a bit watchful as results are around the corner for this one. Looks good for short term if rally is held this week. Keep a stop loss at 2370. Go Long.
MY VIEW THIS TOTAL BEARISH
THIS STOCK BREAK DOWN
MIN TARGET BREAK DOWN 2000
ELLIOT WAVE THEROY THIS STOCK DOWN THIRD WAVE AND FOURTH WAVE UP AGAIN GO DOWN SIDE MOMENT
EXAMPLE FLAT CORRECTION
Rule of alteration: it states that “adjacent or alternate waves of the same degree should be different and non-matching in many ways as possible” In flat correction Wave A...
Market Cap
₹ 3,688 Cr.
Current Price
₹ 2,618
High / Low
₹ 3,955 / 1,502
Stock P/E
13.7
Book Value
₹ 828
Dividend Yield
0.64 %
ROCE
31.9 %
ROE
27.6 %
Face Value
₹ 10.0
Chart is self explanatory. SWING TRADE- Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Venkeys has been moving in a channel and if stock gives a reversal it's going to be a buy and if the stock breaks down, it's going to be a short trade with strict sl.
