#TechnicalAnalysis Study of #NavkarCorp
Recent Breakout with Strong Volumes
Price > 30 WEMA
Entered Stage 2
Relatively Stronger than #Nifty
0.5 & 0.618 #Fibonacci Levels of Corrective Leg ~ 118 & 142.
Looks good for medium term
trade was analyzed on 12 April, target 1 & target 2 done
I was expecting , price will take resistance from target 2 or fib extension value 1.618 but it crossed and leading to 3rd target or fib extension value 2 .
I booked 40% at target 1st with 20% & rest booked out at 2nd target with 50% move
The stock of month
follows me for more chart...
his is follow-up on Navkar Corporation. Can check link to related ideas.
Target 1 achieved. Gain of more than 24%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI...
Navkar Corporation is engaged in Trasportation business, even with rise in crude oil prices stock is showing strength and BO with huge volume
Levels as mentioned on the chart
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Jai Hind Jai Bharat
Navkar-CMP 40.65, It is into logistics and is consolidating for quite some time in the range of 30 to 50. Once it breaks out of this range it can go up to 80, 130, 180 with a sl of 20. Its book value is 122. Just it crossed 50 weekly EMA. This is for educational purpose and investment shall be done by consulting your financial expert.
Head and Shoulder formation
Probable cup formation.
Currently operating on a long term trendline support.
Good to go for target 1 and 2 of 63 and 96 respectively.
RSI shows positive momentum with trendline support.
Disclaimer: This is a educational chart. Kindly take your financial advisor advice before investing. This is not a recommendation.
on may 2018 formed head and shoulder in mtf and fall 90% IN 2021 onwards it forms inverted head and shoulder which indicates bullish in mtf will history repeated and give 90% now will see!............ IN UPCOMMING MOUNTH !....
eye on this
Navkar Corp has given breakout few days back and now is retesting the BO level.
Stock is also approaching near 20DEMA.
Supoort for Stock is near 50DEMA which is near 44 and then 200DEMA which is near38.
Target can be 66.
PS: Please consult financial advisor before investing