AS PER MY PREVIOUS POST ON 28TH APRIL, PRICE HAD REACHED THE TARGET AND AN INVERTED H&S FORMATION IS OBSERVED.
ON FRIDAY, THERE WAS A PRICE INCREASE WITH ABOVE AVERAGE VOLUMES.
AS THE PRICE HAD CLOSED ABOVE THE NECK LINE (202), WE CAN EXPECT THE TARGETS OF 213 & 237.
MAINTAIN PROPER STOP LOSS.
Edelweiss 2 counts presented (alternate count in black). This points to a move higher towards 220-225. Currently tracing a probable triangle. Stop Loss: 182.90. Disc: Invested.
EDELWEISS moving in a channel - Ichimoku Uptrend
This is for educational purpose only
Tenkan and Kijun cross above kumo and price above TK
Future Kumo is green
Chikou is above kumo and uptrend
Also you can note RSI divergence ... which is interesting
Heading towards 200 as its moving along a channel and consolidating.
If it moves above 193 tomorrow then...
EDELWEISS a wonderful clear minded stock... May see a small downside before turning the wheels... I hope the picture speaks of the levels..
*Disclaimer.. may or may not happen ... pls dont put me in hot seat me if it does not pan out
Edelweiss Financial Services Limited is a holding company. The Company is engaged in providing investment banking and advisory services, and holding activities/investments. The Company's segments include Agency business, Capital based business and Life Insurance. Its Agency business segment is engaged in providing broking, advisory, product distribution and other fee-based services. Its Capital based business segment includes income from treasury, investment income and financing. Its Life Insurance segment represents results of Edelweiss Tokio Life Insurance Company Limited, a subsidiary of the Company. The Company classifies its business into three groups: credit, non-credit and insurance. Its credit business includes structured collateralized credit, distressed assets credit, real estate finance, mortgages, and small and medium-sized enterprises (SME) and agri financing. Its non-credit business consists of wealth management, asset management and capital markets.
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EDELWEISS
