As per my trend analysis, we are all poised to hit all-time high by next week. 20342 is where we need to look forward to, and it should breakout huge if it moves higher. Nifty has been respecting my trend line right from the recent low 18834 onwards and we are on this upward channel.
Seems like nifty is deemed to take support somewhere near 19300. If it breaks further, then we can expect it to take support near 18700 and the lowest expected support is at 18400 if it goes further bearish.
If you watch closely, nifty has 3 long-term trend lines. First and the major one was broken during the recent correction. Still, the prospects are kind of bullish as we still have two long-term trend lines. If it breaks the second trend below 16800 levels we can expect nifty to fall back to the 15000 levels.
The stock appears to be respecting a triangle pattern, considering the long-term prospects it would be ideal to accumulate the stock by small numbers when it reaches the downward trend line.
We know that CAMS have been underperforming right from the time IIFL(a private equity company) exited the stock after making huge returns. Despite the strong fundamentals the stock has been a laggard and it was moving on a downtrend ever since the FII's started their selling spree. We can see the trend has been reversed now and its possible the stock can reach...
