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INDIGOPNTS trade ideas

Potential upmove | Bottom fishing - INDIGOPNTSThese analysis is based on bottom fishing method. Meaning that the stock shows an uprising potential from the bottom. Fundamentally it can be due to any major decisions in the management or tremendous performance shown or any such positive actions. Technically, it would have shown an upmove using MA or RSI breakout or any such analysis. IMPORTANT : Wait for weekly close above the breakout level. The secret sauce is not revealed here that how I pick my stocks, however the idea is shared as an educational material. This will also help me to keep a track of my accuracy in doing analysis. Hence & also, I request anyone not to take any positions based on the accuracy of my previous feeds or moving forward. Do your own research and analysis before investing your hard earned money. Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED! NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!! #No complicated chart patterns #No big big indicators #No Excel sheet or number magics Time makes money, GREEDY & EGO will not make money. Also, magically these breakouts tend to prove that the companies turn around and fundamentally becoming strong. Also the magic happens when more diversification is done in various sectors under various scripts with equal money invested in each N500 scripts. The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play. LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
NSE:INDIGOPNTSLong
by Yoyohoneysingh93
Indigo Paints - Great Setup Before a Big Reversal?The stock has experienced a significant correction since February 2021, with a decline of nearly 70% from its peak. Notably, I observed an inverted head and shoulders pattern , recognized as a powerful indicator of a potential bottom. This observation led me to conduct a comprehensive technical analysis utilizing Elliott Wave theory. Upon analyzing the correction from the peak, an ABC pattern in a zigzag formation becomes evident. Wave A manifested as an impulse consisting of five sub-waves, while wave B exhibited a flat correction comprising three minor waves. Wave C, once again, presented as an impulse with five minor sub-waves. The aforementioned waves adhered to the fundamental principles of Fibonacci analysis in Elliot waves. Remarkably, wave C projected at 1.618 times the length of wave A, a common characteristic of a deep zigzag correction. Following the conclusion of wave C, the subsequent wave has surged sharply , indicative of the characteristics associated with wave 3 in an impulse sequence. Although this movement may have been a false signal, the nature of the retracement is particularly noteworthy. It has remained relatively flat in comparison to the preceding upward movement and coincidentally found support at the 61.8% Fibonacci level, which is typically a standard support for wave 2 , before rebounding with a substantial bullish candle. For a detailed explanation on Elliot waves basics, please refer to the following link: www.investopedia.com Integrating the insights from the analysis, it appears that a bottom may have been established, suggesting the potential for a stock rally from this point onward. In terms of trading strategy, i t is advisable to await a breakout above the 1600 level, accompanied by a weekly close above this threshold . When considering position building, a phased approach is recommended, involving gradual purchases on dips to incrementally increase the position size. The wave counts and relevant levels are illustrated on the accompanying chart. DISCLAIMER: It is important to note that the information provided in this analysis is intended solely for educational purposes. It is strongly advised to consult with a financial advisor prior to making any investment decisions. I cannot be held responsible for any financial losses that may occur.
NSE:INDIGOPNTSLong
by harshit22
Potential upmove | Bottom fishing - INDIGOPNTSThese analysis is based on bottom fishing method. Meaning that the stock shows an uprising potential from the bottom. Fundamentally it can be due to any major decisions in the management or tremendous performance shown or any such positive actions. Technically, it would have shown an upmove using MA or RSI breakout or any such analysis. IMPORTANT : Wait for weekly close above the breakout level. The secret sauce is not revealed here that how I pick my stocks, however the idea is shared as an educational material. This will also help me to keep a track of my accuracy in doing analysis. Hence & also, I request anyone not to take any positions based on the accuracy of my previous feeds or moving forward. Do your own research and analysis before investing your hard earned money. Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED! NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!! #No complicated chart patterns #No big big indicators #No Excel sheet or number magics Time makes money, GREEDY & EGO will not make money. Also, magically these breakouts tend to prove that the companies turn around and fundamentally becoming strong. Also the magic happens when more diversification is done in various sectors under various scripts with equal money invested in each N500 scripts. The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play. LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
NSE:INDIGOPNTSLong
by Yoyohoneysingh93