DEVYANI trade ideas
DEVYANI INTERNATIONAL -- POSITIONAL - MARCH 2022DEVYANI INTERNATIONAL --positional - march 2022
1. Stock seen bottom out around strong support area 144-145
2. trendline breakout candle seen on hourly chart
3. BUY ABOVE BREAKOUT CANDLE resistance level above 156
4. Potential upside 20-30% from current level
5. RSI, MACD bullish, volume seen increase
BUY DEVYANI INTERNATIONAL above 156
TARGET 1- 165
TARGET 2- 175-180
stop loss 140
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ** trade at own risk
HAPPY TRADING. !!
NSE Devyani - Buy This Stock Now! *Read This Report carefully to get an accurate entry level for buyers.*
Devyani International has created an all-time high of 198.90. Price faced supply pressure that bulls couldn't hold their power, and it has started correcting for upcoming impulsive structure. After counting the wave, we can name this correction 4th corrective wave, and the all-time high was impulsive wave 3. We know one basic rule of wave principle, " the ending point of the corrective wave is the starting point of the impulsive wave."
What pieces of evidence do we have for the ending point of a corrective wave?
+ Price retraced back from 61.8% at 142.50 (from the low of 107.55 to the high of 198.99)
+ Wave 4 can occur at the 4th wave of a lower degree. The 4th wave has retraced back from the price territory of wave (4). If Devyani breaks the low of wave (C), it may complete the final move near the price territory of wave (4).
+ Price has already retraced 61.8% of wave 3. Wave C has created a throw-out which suggests the accomplishment of wave (C). But I am not a big fan of deciding without confirmation. Let the market commit first before you commit to the market.
+ Wave (A) = Wave (C). Wave C has retraced 100% of wave A.
The trader can wait for a pullback to generate a new entry. If Devyani breaks wave (C), traders can wait for the gray zone. However, price has to break wave (B) to confirm its bull trend.
Trade Setup
Entry: Pullback
Invalidation: wave 2 can never overlap the starting point of wave 1.
Note: Never trade without confirmation.
Short-term traders can trade for the following targets: 172-180
Positional targets for 5th wave: 187 - 200 - 230+
I will update further information soon.
DEVYANI | Good for Long NSE:DEVYANI
Cmp : 170.95
#Study, Learn & Earn.
If you love this post please like and comment your thoughts below. That will be a great motivation for me to post similar ideas ahead.
Disclaimer: All the information posting on this page are for the educational purpose only, we are not SEBI registered financial advisor. We wont recommend any BUY/SELL of stocks. Contact your financial advisor before taking any action.
INTRADAY for DEVYANI !!!#WEDNESDAY#
NSE:DEVYANI
Follow @VK2413
BUY
{
TRIGGER PRICE:-156
TARGET:-160-165
SL:-152
};
SELL
{
TRIGGER PRICE:-152
TARGET:-147
SL:-157
}
WHY INTRADAY in DEVYANI ??
{
HISTORY REPEATS IN STOCKMARKET!!
it's at its CRUCIAL level.
either it has to SHOOT UP OR further FALL to its BEST SUPPORT LEVEL(141).
chances are more in favor of SHOOTING UP from current level because of its good revenue...
BUT careful it formed a long legged DOJI !!!
According to my research and knowledge, it's going to boom for Short-Term.
}
Like👍 , Follow @VK2413 ,🙏 Share love ❤️ ;
} HAPPY TRADING;
H & S pattern on the trendlineThe results are awesome, but the market isn't :P so 162 levels are best level to make average or fresh buy
cup & handle broke due to nifty crackin
Prediction: nifty also in bad mood right now so devyani will come to 162 again and will go up with triple bottom is formation this time
buy at 162
target 200
only long term players