NSE:CAMS
After IPO stock went up sharply with clear and clean ( I think so ) formation of Impulsive Wave. After Impulsive wave stock corrected sharply gone below 61.8% of impulse wave with formation of Triple Three Complex Correction which is completed again I think so .
So, there are 2 Possibilities in this stock.
1) Stock is corrected completely and now is...
Computer Age Management Services Ltd,
FII'S Increased their Shareholding in June quarter............
price making higher low......
Small cap share trade according to your risk tolerance...........
5 times retested the neck line as resistance and now trying to get support after slight breakout at 2327 level.
T1 - 2435 (based on lower pattern)
T2 - 2645 (based on current pattern)
Fundamentally stock has good rations. MF business will grow when nifty makes new high after consolidation of around 2 years.
Stock has given massive move from 2100 levels as posted earlier, now above 2680 levels fly zone for it's ATH, follow chart for proper support and resistance levels.
CAMS has been in a downtrend from end of 2021. We can see on the chart that the stock is consolidating near a strong support of 2000 level.
RSI is forming higher lows which indicate strength of buyers at this level.
It looks attractive at CMP for a positional long trade for minimum target of 2300.However, a weekly closing below 2000 levels will have a sharp fall...
Simple Price Action
In Month of June, price took resistance of 200EMA.
Later in Early July price crossed 200EMA with huge volume and in mid-July Price retested 200EMA and support was established.
Now with 21 July candle which ended positive when Nifty was crashing gives confidence that stock will continue upward trend.
Risk/Reward : 1.5
Buy : 2300
SL: 2135
Target...
On hourly chart, CAMS has moved below the pivot point, has near support S1 at 2297 and S2 at 2261.
Supertrend indicated sell at 2360.
Expect more downside till S2 level, unless there is some unusual volume/ news.
can see the long consolidation and now above 200dma
near to makr\e higher high
disclaimer- this is not any investment call or idea , this just my view and it can go wrong ,this is only for educational purposes trade at your own risk :)
BUY - CAMS LTD
CMP - Rs. 2310
Target - 1: Rs. 2912
Target - 2: Rs. 3520
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Timeframe - 6-12 months
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Technicals - Bullish Flag Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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CAMS can move towards 3700-3900 levels but for that weekly closing above 2360 needs to be given. Best is to accumulate in SIP mode on a weekly basis till the time it breaks out.
NSE:CAMS is currently in a correction phase, according to the Elliott Wave Theory. The stock has completed wave 3 of the correction, and wave 5 is yet to complete. This means that the stock is likely to continue to decline until it reaches the Fibonacci level of 0.618, which is around ₹1,863 per share. Once the stock reaches this level, it is expected to start a...
