Date : 10th April 2024
Time :12.00 PM
Devayani International is showing reversal from its usual support with other bullish indications.
As we can see ,
first of all W pattern is visible from strong support. also there is a bullish Divergence too.
Wave Count on Devyani is also looks like its time for ABC wave till depth of correction price level, which...
Devyani is looking a good candidate for support bounce
Logic:-Stock is trading in channel. The price action is impressive but a confirmation is not still visible.
The stock has delivered poor results and is available at PE multiple of 138x.
Only risky traders should be interested in this.
Devyani International Limited (DIL) is the largest franchisee of Yum Brands in India and is among the largest operators of chain quick service restaurants (QSR) in India. In addition, DIL is a franchisee for the Costa Coffee brand and stores in India.
If we look at the chart:
The stock has broken out to upside. and expected to move higher high.
Reasons:
...
Price has entered a monthly level and swept sellside liquidity before pushing upwards.
The bearish FVG has been inversed and a long can be taken from that level.
What would improve the probability of the setup is if a bullish FVG was formed after sweeping the low.
I am anticipating a missed entry if price is bullish and expands upside for the following days....
The Elliott Wave analysis indicates that the stock has completed waves (1) and (2) which are shown as blue numbers on the daily chart. Wave (3) appears to be underway at this time.
It is anticipated that wave (3) will have about five subdivisions shown in red colour.
Wave levels shown on chart.
Level of Invalidation
The starting point of wave (1) has been...
NSE:DEVYANI Stock take support from C point.
Buy sustain above the 158 rupees.
First Target is 165 to 170 rupees.
Second Target is 175 to 180 rupees.
stoploss below trend line at least one day candle closed.
Devyani internation Ltd analysis 04 Mar 2024
Stock Move in Upward Channel Pattern
stock is now at the bottom of the channel pattern
keep stop loss 135 (on a closing basis)
target 160 - 170 - 190 - 200
high of the channel pattern 240
Share is trying to come out of downtrend.
Took a bounce from 150 level
Volume spurt is seen which may initiate a buying, hence a risky trade, only for risky players.
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Devyani International Looks Attractive
Fundamentals : Strong, Consistent growth on Sales, Profits and EPS. High Reserves vs debt free, Discounted..
Technicals : Taken Strong Support in rising Wedge.. Good RR...
Resistance 1: 180
Resistance 2: 200
Resistance 3: 220+
Support Zone : 140-125
Devyani price is reversing from support line
good green candle with good volume. strong close of green candle.
RSI crossing above 30 and MACD is about to cross over.
Golden opportunity for swing trade.
SL is slightly high 7% , position your quantities accordingly
NSE:DEVYANI
the price is currently reacting from a monthly demand zone
MONTHLY (132 TO 154)
"the monthly zone is strong, but its closing is not that strong. however, we can consider it because it has two good execution levels."
1). 1ST EXCUTION LEVEL (142 TO 148) -the price is currently reacting from this zone and is moving up,
2)."the second execution level is...
Try to research stocks by top down approch after long time price at QTRLY mthly daily dz good price at CMP and below price where you get it with proper risk management as risk management is the key of trading. Always keep track on stocks for study perpose not a buy or sell recommendation
Devyani is on major trendline support on weekly chart.
support are marked as green horizontal lines and resistance with red lines.
Buy at 148 - 140 - 135 - 121 - 107
Stoploss 105
Target 200 - 220 - 300
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given...
