PRICE AT THE TREND LINE SUPPORT, NEAR THE EMA CHANNEL, MOVING IN THE PRICE BAND (AS SHOWN IN THE BOX) WHERE AMC's HAVE PURCHASED, BUT THE H&S PATTERN IRKS ME. IT IS BETTER TO ENTER @ 280 LVLS.
August report: 30 stocks from large, mid & smallcap space that mutual funds bought/sold (Vodafone Idea, Future Retail and Syngene International continued to be in top 10 selling list in August too.). REASON MAY BE THIS.
IT IS SEEN FROM THE CHARTS, THAT THE EMA CHANNEL IS WAY BELOW @ 580 LVL. IT IS BETTER TO WAIT FOR Q2 RESULT FOR ENTERING LONG.
MY OBSERVATION IS THE PRICE TO COME BACK TO 975 LEVEL. DOUBLE TOP @ 1033 LEVEL, TODAY
AFTER A LOW AROUND 498 IS MADE, THE PRICE HAS STARTED MOVING IN THE BAND SHOWN IN THE FIGURE. THIS LEVEL IS ABOUT 50% RETRACEMENT LEVEL SO, SIP MODE INVESTMENT WOULD BE A BETTER STRATEGY. CHINA ISSUE SHOULD BE HELPING THIS COMPANY.
RECENTLY THE PRICE IS GETTING SUPPORT AT THE KIJUN (RED) LINE. TRANSPORT MINISTER ANNOUNCED THAT THE SCRAPPAGE POLICY WOULD BE ANNOUNCED BY SEPTEMBER MONTH END. THEN, TARGET WILL BE BEYOND 160!
IT IS OBSERVED THAT WHENEVER THE PRICE REACHED THE CHANNELS TOP LINE, THE PRICE STARTED TO MOVING UP. THIS IS ALSO OBSERVED BY THE C&H PATTERN. BREAK OJT IS INDICATED.
MOVEMENTS AND THE RANGES IN THE CHART IS MENTIONED.
REPETITION OF PATTERN SHALL ENSURE 180, AGAIN.
WILL IT MAKE NEW HIGHS?? REACHED THE TARGET PREVIOUS GIVEN @ 504.
LOOKING AT THE CHARTS, AN APPRECIATION OF 2-4% CAN BE EXPECTED. INTERESTED??
AS INVERTED H&S PATTERN IS SEEN IN FORMATION, WAIT FOR PRICE TO REACH 279 LEVEL.
IT SEEMS BETTER TO PLACE ORDERS BETWEEN 1120-1155, WITH STOP LOSS 1120.
PATTERN OBSERVATIONS THROW THE LIGHT.