Began a downtrend and made a correction at 0.5 fibo levels and formed head & shoulder pattern and again resuming the trend.
Entry :- 632 to 636
Target :- 620 ++
1.0.5 fibo rejection
2.Head & shoulder pattern breakdown
4. down trend
0.236 acting as a good support
And at same levels its acting as a demand zone
"Not to worry about break-away gap"
These gaps are often a good indication of bullish moves in the market.
And are often created after a major completion of price action pattern.
Let me know You views also.
Tata Coffee has given a Breakout from a very tight range,
and it is also supported by volumes.
Stock P/E stands at- 17
Cash flow in the company is good
After the corona crash the company has made a good recovery.
Q3 PAT is 32 VS 25 So we see the recovery.
4.Volumes indication of weak down trend
5.Fibo levels @ 0.5%
If not an direct upmove we might see some consolidation and then the stock may shoot in upwards direction.
The EMA and the support are very crucial levels lets see if they could sustain.
Due to the earnings declaration the prices were hammered, and hence was opened as gapped down,
Reasons For Selecting:-
1.Trendline acting as a support
2.Stock respecting Fibo levels
3.Double bottom pattern
placing a stop-loss @ 375,
Followed by the Targets 1 & 2
Stock has shown good upside momentum and has not been fully recovered after the covid-19 Impact
hence here i see an opportunity and feel like it is ready to shoot up and forming a pennant pattern
For easy targets of 50 to 60.
Very bullish on the stock as it was consolidating from a very long time.
and has given break-out with huge volumes
We could easily expect target of 62 or more.
Rising Net Cash Flow and Cash from Operating activity 375.3% returns for Nifty 500 over 5.9 years
Good quarterly growth in the recent results 254.3% returns for Nifty 500...