Vilas616

Vilas616

Almost for the past 3.5 years its been in the down trend from its all time high of 340, went all the way down to around 40. from there slowly started forming higher highs and higher lows. at present taking good support at 20 SMA this could be the best time to enter for long term investing, at least staying in for 1.5 to 2 years to reach the target of 340 (min).

Vilas616

its been side ways for more than a year after a very big fall, tried 2 times for upwards move, this is the 3 time broke R4 Pivot and making it as suppot. we may see very good rally, one should really hold it for 2 to 3 years for good returns.

Vilas616

we see very few good stocks below their 200 SMA in monthly candle pattern, one of them is Karur Vysya Bank (KVB), few of the examples which i know are Tata motors and Deepak fertilisers came below their 200 SMA and bounced back to their fair value. KVB tested its lowest and now started forming higher highs and higher lows (Bull phase).

Vilas616

From Oct 2017 reaching its top at 199 then started correcting and reached around 40, took the strong support at 40 and bounced back to 110 then corrected, now its taking really good support at its 20 SMA, this could be the bast time for entry and holding it for minimum target of its previous high i.e. 200. this target may be achieved in 1 to 1.5 years.

Vilas616

Continuouslt 2 moths Pivots have formed very tight, it may break out at anytime, once if it breaks R4 level, it could give a very good rally.