Rest in chart..
MACD golden cross
As marked in chart, Short-term moving average (such as the 15-day moving average) is going to cross above its long-term moving average (such as 50-day moving average) The golden cross indicates a bull market on the horizon
Also, The company could be major beneficiary of News - Cabinet approves Rs 2,600 cr package for leather...
Price action could take bullish reversal owing to candlestick as seen from core support levels after prolonged downtrend as seen earlier
RSI also seen to be taking rebound from "oversold" zone
Aiming for short term for Target 1 and 2 thereon after entry confirmation and thereafter, resistance (C) levels
Rest in charts..
Scrip is again nearing the resistance zone from where it has retraced 4 times however bulls have always managed to have reversal around 82 support level
Would be interesting to see if the scrip manages to breakout from the crucial resistance peak of 112 (52-week high) this time as strength candles are also to be seen with good volume during last few sessions...
Scrip has been able to find resistance at core support levels and break trendline with good volume however, would wait to enter post confirmation ensuring it isnt false breakout
Would prefer to increase stake after the scrip manages to move out of consolidation channel
Aiming for TP - 99, 120, 130 in LONG TERM
Nonetheless, One cannot invest for very long...
As per weekly charts, Scrip is gearing up in ascending channel with higher highs and higher lows, forming strength candles wherein,
BH>50% CH% Candle. Thanks to Deishma for providing theory insights
BH -% is Body Height of the Candle and is the Absolute Difference between Close...
Scrip is gearing up in ascending channel with higher highs and higher lows
Breaking out from ascending channel can make the scrip surge till targets defined. Rest in charts.
Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above-200 which gives strength to ongoing momentum.
2) CCI (Commodity channel index) - Above 100
Post confirmation of bearish engulfing , Entry below 535
TP - 530, 525, 520
If further fall is seen, SHORT till 492
30 mins. chart also showing exhaustion bearish gap being covered
RSI retracement as seen earlier would further confirm the SHORT opportunity
Scrip has already shown gap up from consolidation channel with higher volume however, Long-legged doji has appeared
Convey a sense of indecision or tug-of-war between buyers and sellers. Prices move above and below the opening level during the session, but close at or near the opening level....
Price action has taken bullish reversal from core support levels after prolonged downtrend and now, Breakout with volume surge is yet to be seen. Already, the scrip has seen volume increase during past few sessions
Aiming for short term for Target 1 and 2 after breakout from trendline.
The company has shown progressive results in...
Scrip is almost about to breakout from 52-week high and aiming towards newer highs with more momentum, this time. Body height (BH) of candlesticks showing the way
1) Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) has already crossed above its long-term moving average (such as 50-day moving average)...
Scrip has already come back from the retracement from double top bearish reversal quite sooner than expected and has already moved out from consolidation channel
Today candlestick has resulted in bullish pin bar
Bullish Reversal Pin Bar Formation
In a bullish pin bar reversal setup, the pin bar’s tail points down because it shows strong rejection of lower...
Scrip has already crossed the price target defined earlier with bullish harami in motion. Breakout from ascending channel could result in more effective buying henceforth, resulting in major surge
Planning to enter intra-day with price level mentioned in chart aiming towards
Enter above 975 (Post confirmation)
TP - 980, 987, 993, 1000
Sl= As per risk appetite...
Scrip is near to cross the crucial resistance level and touch 52-week high level (646) and go beyond
Be wary of doji candlestick which had resulted in trend reversal (pullback) earlier
Planning to enter intra-day
Enter above 624
TP - 630, 635, 640, 647, 650
Sl can also be taken as per risk appetite
Rest in chart..
Scrip had been trading in a channel or consolidation phase since 159 days (5 months approx.) with three reaction lows and two higher highs, now to breakout from consolidation channel with higher volume surge aiming towards TP as mentioned..
However, Dark cloud cover pattern has been formed on day 2 which is bearish candlestick reversal pattern, similar to the...
Although not 100% valid pattern, however, If the scrip breakout from core resistance level of 141, One can aim for price target as defined
Enter above 143 (Post confirmation) as the day chart is showing bearish retracement for now after uptrend..
MACD golden cross (bullish breakout pattern) also seems to be showing the way where short term moving average goes...
Scrip had been trading in a channel or consolidation phase since 87 days (3 months approx.) with two reaction lows and highs and managed to breakout from trendline, now to breakout from consolidation channel with higher volume surge aiming towards TP as mentioned..
Profit book can be done around Fib 0.618 (200)
MACD also showing the way
Have already stayed...
On weekly charts, Scrip has been consolidating between certain channels since 6 months and now, on the verge of breakout after reaching at 52-week high
Enter at 153 - breakout (Post confirmation) to aim for newer highs
Price target - 200
Profit book - 176
Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) about to...
Scrip has almost formed the low of the rounding bottom which resemble a “V” bottom, the trend has been validated by trend period which took 5 months to form however volume increase at the end is yet awaited for perfect trend formation/breakout
The scrip has gone through long consolidation period that turns from a bearish bias to a bullish bias but yet to see...