Technically: 1) Entered into Stage II - Uptrend after Weekly resistance breakout with huge Volume. 2) Good Price Volume Action can be seen. Fundamentally: 1) Posting remarkable Quarterly results. 2) Almost Debt free. 3) Increasing EPS. 4) A subsidiary of Tata Steel Ltd. A Potential Multibagger!!
1) Weekly Trendline Support Broken. 2) Entered into Stage III - Consolidation/Minor correction. 3) Taking Support at 225. 4) If we apply Dow Theory: (i) A close below previous swing low (HL/214) may result in change of Trend. Which is Stage IV - Downtrend. OR (ii) Stage III may continue for a while before it enters next Stage II - Uptrend.
Possibilities hereon: 1) Continuation of Stage 3 & then enter Stage 2. 2) If Weekly close below 30EMA then Stage 4 -Downtrend & then enter Stage 1 again. Let see how things unfold. Any other view, suggestions are welcome.
NIFTY MIDCAP Important Support levels: 1) 70 EMA - 26700 2) Trendline Support - 25000 Keep an eye for reversal signs from their significant supports.
Inverted Head & Shoulder Pattern on Weekly chart. Breaking out Resistance zone. Huge volume while crossing the Resistance zone. Worth keeping an eye for long.
Weekly Investment Idea | Large Cap Stock | Larsen & Toubro Ltd #LT 1) Good weekly close. 2) Inverted Head & Shoulder Breakout. 3) No near term resistance. ATH. Free Tip #Calculation of Target in INHS type of breakouts: Target = R1 + (R1-S1) = 1600 + (1600-765) = 2435. Note: Above values are approx. values. Please refer chart.
Negative Reversal Indications: 1) Shooting star & series of Doji's at top. 2) RSI Negative Divergence 3) Gap filling pending. Zone - 780-790.
Short Time Frame Update || Reversal Signs. 1) 70 EMA support. 2) Bullish Harami Candle on support. 3) Reversal from RSI Support. 4) Gap filling pending.
Technically: 1. Weekly resistance breakout with good volumes during Dec,2020 week. 2. After seven months of consolidation poised well for another breakout. 3. Good Price-Volume action. 4. Technically, next stop around 530. Fundamentally: 1. Sustainable business. 2. Healthy Quarterly/Yearly results. 3. Almost a Debt free company. Potential Multibagger in coming years.
Potential Multi-bagger stock. 1) 12 years Breakout with Strong Volumes. 2) High volume build-up in recent months. 3) NIFTY METAL Index doing well (Stage 2). 4) Fundamentally quite strong. 5) Almost Debt free. 6) Good Quarterly & Yearly profits.