Indieconomic

Indieconomic

NSE:ADANIPOWER shows a transition from a downtrend to a reversal. Downtrend - After reaching its all-time high, the price began a correction, forming a series of lower highs (LH) and lower lows (LL), with the trend persisting for approximately 220 days. Trend Reversal & Consolidation Phase - After the prolonged downtrend, the price action transitions into...

Indieconomic Updated 

The stock was in a 1-year consolidation phase , struggling to break past a strong resistance zone. Throughout this phase, the 200 Exponential Moving Average (EMA) acted as a solid support level , with buying pressure emerging every time the price approached it. During consolidation, low volume indicated accumulation , and a massive surge in volume was...

Indieconomic Updated 

After delivering a 300% return over 18 months post-breakout, the stock retraced to a key Fibonacci level and consolidated for 6 months. It has now broken out of the consolidation pattern with a significant volume spike and has surpassed the 200 EMA, signalling renewed bullish momentum. The target is set at the all-time high (ATH), with a stop loss placed just...

Indieconomic

The weekly chart shows a reversal after a long downtrend. The stock has recently broken above the weekly 200 EMA, a significant technical milestone, and has also retested this level successfully. This indicates the potential for sustained upward momentum, especially as volume supported the breakout. The stock could face resistance around INR 1,000, which is a...

Indieconomic

In January 2024, Salasar Techno Engineering Ltd. broke out of a 7-year-long channel, signalling a significant shift in its long-term trend. Following this breakout, the stock surged by approximately 150% before beginning a correction from its all-time high. From March 2024 onwards, the stock entered a consolidation phase within a downward channel. Recently, it...

Indieconomic

The price near support, an opportunity to accumulates with favourable risk & rewards ratio. Divergence in RSI , where the price is making lower lows, but RSI is making higher lows. This is often a bullish signal, indicating a potential reversal or consolidation before an upward move. Fibonacci Retracement , the price corrected from all time high and retrenched...

Indieconomic

Nation wide, automated and transparent trading platform for physical delivery of electricity, renewables & certificates, holds market share of 80%. Elliott Wave Analysis Wave (1) indicates a strong uptrend, peaking around the INR 253. Wave (2) shows a retracement, aligns with the 38.2% Fibonacci level around INR 122 and a period of consolidation, forming a...

Indieconomic Updated 

Technical Analysis It had a fake breakout earlier this year, where the price temporarily moved above the resistance level but then fell back into the channel. Recently, there was a breakout accompanied by a significant increase in volume, suggesting buying interest. The stock has been respecting the 200-day EMA (Exponential Moving Average) since April 2023. The...

Indieconomic Updated 

Since 2020, the stock has been moving within a rising channel , indicating a long-term uptrend. The price recently formed a double Doji at support line of channel. The immediate support level is around 3055 and initial resistance levels is 3625. If the stock price respects the channel, it could move towards the upper boundary, providing a potential upside ...

Indieconomic

Key Issue Recurring Annual Loss : The financial performance of company deteriorate over the years last 7 years. Before 2018 company was profitable and now reporting annual net loss Rs 31,238 cr. Hight Debt : Debt of the telecom operator is rising at an alarming rate. It owes Rs 2.1 trillion to the government, with a large part of it under moratorium until...

Indieconomic

The chart highlights a support zone around 3239, reinforced by the 200 EMA . There is a resistance level around 3472.40, which the stock needs to break through for further upward momentum. The volume appears to be consolidating, which can be a precursor to a breakout. Increased volume during a breakout above resistance would further validate the bullish...

Indieconomic

There was a large movement in "Coal India" followed by a consolidation period with converging trend lines. The pennant breakout movement in the same direction as the initial large movement. The period of consolidation have lower volume and the breakout occurred on higher volume. Relative strength index (RSI) levels was moderate during the consolidation phase and...

Indieconomic Updated 

Descending channel , top trendline connects the resistance points (lower highs) and bottom trendline connects the points of support (lower lows).The price broke out of the descending channel twice and rallies 15-20%. Volume - low during correction phase and spike in today's session. RSI - indicating momentum and relative strength in stock. Fibonacci...

Indieconomic Updated 

After the 2 years of consolidation, price given a breakout and retested the level positively with volume. Stop Loss below Rs 2700 | Target Rs 4000 Thanks -aJ Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.

Indieconomic Updated 

The thread will include multiple fundamentally strong stock for long term investment. 1. Deepak Fertilizers 2. GR Infraproject 3. Shyam Metalics

Indieconomic Updated 

The chart is self explanatory and key point highlighted below: ✔ Channel breakout and price retrenched to fib 50% ✔ Descending triangle consolidation and further breakout ✔ Defended psychological level of Rs 100 ✔ Volume breakout after price correction ✔ Above key moving average of 20, 50, 200 .. ✔ Stop loss & target mentioned in chart Thanks Disclaimer:...

Indieconomic Updated 

The price structure analysed on multiple parameter for better understanding. Weekly Chart ✅stock corrected and reinstated to fib 38.20% ✅strong base with rounding bottom Daily Chart ✅triangle breakout with volume ✅golden crossover confirming strength in stock (50 & 200 ema) ✅price consolidating after the breakout Index - Nifty IT After a year of range...

Indieconomic Updated 

The stock's price moves above a eighteen years resistance level. Bullish signal generated with Cup & Handle neckline breakout, which supported by increasing volume. Wait for price retest to confirm the valid breakout. MCAP 1936cr | P/E 30.70 | ROCE 21.80% | ROE 18.40% | Promoter Holding 75% | D/E 0.26 Stop Loss below Rs 285; Target 1 Rs 425 Weekly Chart...