About meYoung share market enthusiast.
Looking for and uploading potential multibagger ideas with reasoning.
Will upload potential swing trade ideas with analysis once in a while too.
Open to discussions!
What seemed as a Bullish Pennant at first has now formed a proper bull flag pattern. Refer to previous analysis(Link given):
Entry = Rs 96+
T1 = Rs 110
T2 = Rs 121
T3 = Rs 138
T4 = Rs 150+
A 3 year long trendline has been broken in Zee Entertainment Enterprises Ltd. ( NSE:ZEEL )( BSE:ZEEL and we have a potential multibagger trade on our hands.
The stock has been facing resistance from the trendline since April 2018 i.e. 3+ years and has broken this in the past few weeks.
It is currently at a very crucial level and a breakout from this level will...
Tata Motors has been moving in a confined range since the past 4 months. It has formed a bullish ascending triangle within the range and might be on the verge of breaking out giving us a good swing trade.
Levels for the trade are:
Entry = Rs 339+
Short term target (Intraday or 1-2 day target after the breakout)
Target 1 = Rs 349.95
Medium term targets ...
BHEL has given spectacular returns of 280+% in the past 1.5 year and is still looking good for the upcoming months.
It's currently facing resistance from a critical level and a breakout can be seen in the upcoming weeks providing a good swing trade.
Entry = Rs 83
Target 1 = Rs 90.20 (~08.5%)
Target 2 = Rs 105.7 (~27.1%)
Target 3 = Rs 120.8...
Medium-term Swing Trade (2-7 weeks)
(Purely Price Action based trade)
Canara Bank has posted very strong quarterly and yearly results and looks bullish in the future.
It is approaching a very strong supply zone of Rs. 170-177 where it has faced rejection multiple times previously.
If this zone gets broken with a good momentum and volume the following trade...
1. Bearish RSI Divergence spotted on daily time frame as well as hourly time frame.
2. Strong Resistance at 15,500 level, might reverse.
3. Falling ADX signifies a weak move up, suggesting reversal.
4. Correction might last till 15,000 or 14,700 levels.
1. Strong financials, can consider for long term.
2. Trading at lower value due to bad quarterly results, accumulate at a fair value.
3. Business operations should go up once the pandemic is over and lockdown restrictions are lifted.
I consider it a potential multibagger.
1. ADX rising in a sideways trend, possible breakout.
Wait for activation i.e.
Daily candle closing above Rs. 45. (Low risk traders)
High risk traders can enter at CMP too.
Inverted head and shoulders also spotted, strong bullish signal.
Company expected to give a strong quarter as well.
Keep in watchlist.