This is just an example . Like many Midcaps this midcap ran a wave 3 from Rs 5(2013) to Rs 409 (2018) . Now it is correcting in a wave iv which should end at Rs 84 , when wave iv breaks the channel of wave iii and ends at a previous wave iv of one lesser degree . Now consider this . If the Elliott Channel is held then the labeling changes . It will augur an...
Water base is on a dwindling Descending pattern , with no supports at current levels , further support at 174-160 range, clearly bearish until it breaks the pattern and start moving up .
One can wait until either 174-184 levels to buy or it should break the descending channel.
As far as Pattern is concern it went up giving pole and flag , I guess above 400 it will be great stuff again and below 240 it will be worst. Will keep watching this .. Interesting one ..
CMP 107Rs
Likely to Stay in the pricezone of 127-98Rs !
Target 130Rs (Very ST-1Month)
Target 177Rs ( 6Months-1Yr)
Very ST Stoploss of 98Rs!
ST Stoploss 86Rs!
Stock has good support at 125-130 levels but has resistance around 165. Stock is in the zone of uncertainty but can start a trajectory of its own.
Can be considered to be a part of core holding.
No target assigned.
Waterbase ltd
CMP 112
Observations from chart...
- Volumes are higher when going up &
- lower when stock is coming down or in consolidation phase
- the stock has given a triangle breakout
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- long term target as per pattern set up comes around 212-220 zone
- 128 / 160...
Waterbase has been consolidating in a symmetrical triangle and is on the verge of breakout on its Weekly Chart. RSI has already given a breakout and taking support from the downtrend line. Looks interesting.
