naraykln

naraykln Updated 

An undervalued company with P/E<5. Not every low P/E are good. But Andhra paper is exceptionally good in terms of fundamentals. Working capital reduced drastically. Improved profitability and operating cashflow with stellar operating profit margin. Expected Target 880. Can be held long term as well as it's undervalued. Disclosure: Holding before this stellar breakout

naraykln Updated 

Head and Shoulder is a bearing pattern. ACI seems to be negating H&S pattern by breaking the trendline in chart & RSI in daily chart with volume. Trendline between head & right shoulder top yet to be broken. Closing above 690 (Right shoulder) would confirm that bearish pattern is negated

naraykln Updated 

Bigger the base, Bigger the target. H&S negated. Disclosure: Invested. Position increased

naraykln Updated 

Good weekly close would be nice. 972 above will head to the final target. Final leg.

naraykln Updated 

Vijaya diagnostics posted good results. Cup & handle pattern. Fundamentally sound company.

naraykln Updated 

If you look at Quarterly chart, We could see a pattern that after an year consolidation, 100% rise has happened. Could we expect Dec '23 - Dec '24 as consolidation period. Historically, 1st quarter of polycab hasn't performed except last year which was a surprise. Let's see what happens this year. Higher low hasn't formed yet in weekly chart.

naraykln Updated 

ShareIndia 61.8% fib level of wave 2 to 3 held as support. Looks like wave 3 to 4 is over. Still don't see positive divergence in weekly chart. Can expect final wave to rise and reach above target levels as per chart.

naraykln Updated 

Deepak Nitrite Fundamentally Strong company. Institutions increased stakes in Apr-Jun Quarter. Triangle breakout. Will fire once consolidation breaks out.

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Appears to be Jewellery custom index breaking down from parallel channel

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Petronet among gas distribution brokeout all time high. Gas distribution sector also gave trendline breakout. Fundamentals of Petronet is also good. OPM has been steadily increasing over past 4 quarters along with net profit and eps. Stellar ROE record over 10Y period

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Demat account hits new high in FY24, 31 lakh more additions in March Rectangle box consolidation and flag breakout with good volume. Targets in chart. Could see breakout on Weekly RSI on zooming very close. If chart adjusted for dividends, Weekly RSI breakout is visible. 35% upside potential.

naraykln

TD Power system gave a rectangle breakout with very good volume. RSI also had breakout. Good fundamental company. Capital goods, transformers, oil, gas stocks are good

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Nifty Metals. Will it head to 7967? Riding the dark horse. Kalyani Steels.

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Stylam Industries under the industry Plywood Boards/Laminates is engaged in the manufacturing of decorative laminates exports its products primarily to European and South East Asian countries. Company has excellent fundamentals. Improved ROCE, Debtor & inventory days along with working capital. Stock looking to breakout trendline in chart. RSI already brokeout...

naraykln

Gas distribution sector breakout. RSI yet to breakout in that sector. And Likhitha is indeed good company with excellent fundamentals. In this bull run, many stocks emerge cup & handle pattern. Many stocks forming H&S bearish pattern but negate it in right shoulder. This one is also like that. Another eg. shriram pistons. Likhitha getting bullish. Stock has long way to go.

naraykln Updated 

If this index is observed, price has taken support of 23.6% Fib level of pullbacks twice after significant rise since 2020. Currently price is near the 261.8% Fib Level (15259.65) drawn between Jan 17 '22 top to Jun 20 '22 bottom So far price couldn't break that resistance. Feb 5th and Apr 8 in weekly chart. Last 4 days in daily chart also isn't convincing....

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IEX took support at 117 which is 61.8% Fib Level. Another support formed at 130. Chart & RSI is about to breakout.

naraykln

Looks like total market index is in consolidation zone. Weekly Candlestick showing evening star bearish pattern. RSI(34) is below it's moving average