After studying the price action and applying concepts of technical analysis I have come to the conclusion that Excel industries is providing a good opportunity to buy. Promoters hold a decent amount of stake in the company and the company looks fundamentally okay with no red flags. Hence, I call this a techno-funda idea instead of a pure techno idea.
Bandhan bank it at trendline support level. In this analysis I have also tried to do time factor analysis. Any suggestions for improvement is appreciated. If you like the idea then please gives the thumbs up !!
(Free advice - The longer the chart time frame, the better is the accuracy :) )
Elliot wave is often misinterpreted and thought of as outdated but the behavior of market participants don't change. Extending on this topic I have tried to apply Elliot wave on DLF (NSE). Invest or trade at your own risk and consult your financial advisor.
Thanks if you like the idea show your support by a thumbs up !!
Chart shows bullish bias on SBIN with impulse wave 3 about to start. Generally wave 3 of the elliot wave gives decent trending move and in quick time. Hope this analysis helps.
And please remember invest at your own risk and consult your financial advisor before taking decision. Thanks!!