WATERBASE trade ideas
Entering the buying zoneStock has corrected / reversed the entire move started in Nov 2017. RSI is also in oversold zone on a weekly basis. Plus promoters buying stock from open market. All signs promising.
Tomorrow the stock may form a temporary bottom at 186Support at 208, Progressive targets: 208, 232. In the long term 300
Tomorrow a confluence point (200) will be metIf the 1/1 descending line is crossed on closing basis next target is 223 in short term. Medium term target 270.
Elliott Wave and the Midcap/Small Cap ProblemThis is just an example . Like many Midcaps this midcap ran a wave 3 from Rs 5(2013) to Rs 409 (2018) . Now it is correcting in a wave iv which should end at Rs 84 , when wave iv breaks the channel of wave iii and ends at a previous wave iv of one lesser degree . Now consider this . If the Elliott Channel is held then the labeling changes . It will augur an extended 3rd . So hold your breadth and wait for midcaps/small caps.
WaterBase - BearishWater base is on a dwindling Descending pattern , with no supports at current levels , further support at 174-160 range, clearly bearish until it breaks the pattern and start moving up .
One can wait until either 174-184 levels to buy or it should break the descending channel.
Intresting to see next move on RSI, paani paani .. :)As far as Pattern is concern it went up giving pole and flag , I guess above 400 it will be great stuff again and below 240 it will be worst. Will keep watching this .. Interesting one ..
Waterbase: Hourly chart, near resistance, will it break ?5-Feb-18: Waterbase: Hourly chart, near resistance, will it break ?
Water Baser MonthlyWill we do 980 ??
3yr consolidation break outs. with previous patterns.
Projecting this chart only for Study purpose....
WaterbaseCMP 107Rs
Likely to Stay in the pricezone of 127-98Rs !
Target 130Rs (Very ST-1Month)
Target 177Rs ( 6Months-1Yr)
Very ST Stoploss of 98Rs!
ST Stoploss 86Rs!
Moving into uncharted territoryStock has good support at 125-130 levels but has resistance around 165. Stock is in the zone of uncertainty but can start a trajectory of its own.
Can be considered to be a part of core holding.
No target assigned.
On request: Waterbase: Bullish triangle breakoutWaterbase ltd
CMP 112
Observations from chart...
- Volumes are higher when going up &
- lower when stock is coming down or in consolidation phase
- the stock has given a triangle breakout
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- long term target as per pattern set up comes around 212-220 zone
- 128 / 160 can be looked as possible short term & medium term targets
- on the lower side 104 / 93 are important levels to watch out for...
- Below 87 pattern gets invalidated
Important decision making levels identified for the stock.
Review your trading plan
& plan your trade accordingly...!!!
Take care & safe trading...!!!
Triangular breakout on the cardsWaterbase has been consolidating in a symmetrical triangle and is on the verge of breakout on its Weekly Chart. RSI has already given a breakout and taking support from the downtrend line. Looks interesting.
Waterbase - uptrend channelthe stock is forming a symmetrical triangle pattern. buy on dips around 100-110
