The share has seen a repetitive sequential of session highs and lows (time range 3-6 months), forming two new highs- B in the chart after every low A in the chart.
As this is followed we see a predictive range of 595 - 1st Resistance and the 2nd B(Resistance) - 658
Time period - 3 -6 months
The descending triangle shows a downside,bears will take charge if the support level at 184 is broken. A trend pattern shows a definite continuation of a bear trend
Apcotex is showing a trend repetition (Ref - yellow lines), forming a bull angle of 30-45 degrees, a similar trend will be continued in the future as we have seen a similar downtrend(Green line) at an impact at a low of 504, such that it will give a bull rise to 644 in the long term, a sell off noise will be see in the short run
A historical pattern in sine line shows that the H's of the sessions will have a similar curve to that of its historical prices, with the sine line validating the curve of its regulars upside and downside trend
Aroon up shows a strong reversal (14 days), with chande oscillator reaching its support levels, a strong recovery in its new high will be seen, with a target of 492
The current Indian Market scenario clearly shows that nifty wont show a significant recovery in the near term amid expected RBI repo rate hike as well unfavourable 2 Cs- Currency and Crude oil rates. Keeping these macros in mind, in my opinion this newly issued IPO , trading at discount will further see a new bottom formation at the levels of 409/410. Its a great...
With current Nifty levels there is no significant recovery to be seen in the near future with expected repo rate hike amid RBI meeting on OCT5, as well as the pressure due to 2 unfavorable Cs- Currency USD/INR and Crude prices. This newly issued IPO will see a new bottom formation at the levels of 409/410, already trading at discount from its issue price. In the...
