Bull therapy 101-thread for technical analysis with the fundamentals


#667

mayur uniquoters…

possible scenario i am betting on

disclaimer… invested

bajaj corp formed a dragonfly doji on huge volumes., looks interesting…!


#668

accumulation and distribution pump dump schemes available at rich valuations…!!

margin pressure continues, growth in loan book continues…

this ascending triangle would be interesting to watch, what kind of process happens at the apex, right now there has been a buying climax and an automatic reaction

disclaimer… no positions, tracking


#669

this chart is very difficult to analyse, i ahve tried, myself in the past… but its too confusing with full of wicks… but o a visual basis, i will be bearish on this scrip…

@manivannan.g , any views on this scrip on elliot waves?


(manivannan.g) #670

Ambika seems to be in corrective waves, after completing wave (5) since it’s inception. (I see the data is available from 2004 in BSE, hence considering the listing is in 2004). From 2004-2005 it had a massive run, followed by sharp correction (88% fall), triggered by global crisis. Since then the current elliott wave has been started.

This is how the beginning looks:

Here’s the full elliott wave cycle. Wave (2) was simple and straight correction, where as the wave (4) was a complex correction. After wave (5), now it’s trading in side ways (time correction), but as everyone predicts, if the nifty corrects, then ambika cotton mill will correct too. How much the correction goes ? As per the textbook rules, the corrections can retrace till wave (4) levels. But the 61.8% retracement is around 1100 from the top of 1800. Hence the downside will be limited to 1100, but can retrace to 800 levels as well.


#671

persistent looks interesting today…

a positive structure indeed, after a bullish , closing marubozu, undergoing followthough!
all this after a massive shakeout which has resulted into a buying frenzy at the cloud support

looking at the weekly chart, the flat red kijunsen can still magnet the price action downwards, but looking at the positive response form the kumo cloud in the daily chart, and action not giving up the blue tenkansen support…
looks like the bottom of the shakeout is done…

https://www.tradingview.com/x/rkoXvv3X/


#672

guys anyother interesting charts in pharma space …

i am tracking laurus lab, sun, auro, suven, torrent, syngene, advanced enz, pel…


(Ankush Agrawal) #673

Check out Hester Biosciences


#674

suven…

went for the expected last leg up

aiming to reduce,
expecting a hypodermic formation at the top , a huge wick…

downside correction on this hyperwave 5 wont be much and will head off for a flat action[may be another triangle]… before making the final biggest upmove…

disclaimer,… invested… planning reduction to 20% and re-adding on dips later…


(Arun S G) #675

Alembic pharma - 20 ema>50ema >200 ema
Shilpa - 20>50 & both yet to cross 200, seem to be getting there.

Disc: Invested in both


#676

thanks @ankush12495

hester is fresh out of distribution, and shredded most of its supply, to reach a selling climax…

its hard to tell for sure if accumulation has started, but i see buying at a prelim support and theselling climax, and the secondary tests exposes, very little supply left…

its too early in the trading range and has a heavy band of rotation from the poitn and figure chart, as mentioned…
would liek to see a change of character across the mentioned downtrendline, and the band…

over all a positive structure in formation , but too early for my taste…

will keep in the watchlist…


#677

will be interesting to see how shilpa behaves in 532 to 566 range…

https://www.tradingview.com/x/40qdrDyo/

those were prior supports broken down by distribution…

i would be a bit bearish on shilpa…
have a relook sir…

i think there might be redistribution happening on this range, and this upmove could be potentially turning into an upthrust…
if some tv analyst has given a buy recommendation recently, that would be a good sign that this is redistribution…

iifl, gave a buy call at 510 27th aug , right at the top of the chart… excellent…!

very interesting chart in alembic…!!
thank you…


#678

glenmark broke the downtrendline on arithmetic scale on a good volume rally…

interesting developments here

disclaimer… tracking not invested


(ashish) #679

Not pharma stock but interesting chart formation in Zee learn and Reliance Home Finance, Have a look.
Disclosure: Tracking both,not invested yet.


(vb2400) #680

Jagran Prakashan seems to be building a base around 120. It is available at multi-year lows. Approaching elections should help the company get more ad spend from the government but increasing newsprint prices will put pressure on the margins. Its subsidiary Music broadcast Ltd is also expected to do well in the coming quarters.
Disc: Invested during recent correction


(Sarabjeet Singh) #681

Mastek breaking out for another uptrend after consolidation of few months. Good fundamentals and a strong dollar is an obvious plus for an already strong growth momentum for last couple of years

Disc : Invested from a very long time.


#682

@manivannan.g ,
Does it look like a decisive wave c by any chance to u??


#683

Very nice mentions… Thank you…


#684

I am unaware of the fundamentals on this one, but on the charts it definitely is a case of selling climax, no doubt about that…
Very early to call it a base, lets see how it goes, will track it in this thread.
Thank you.


#685

Excellent mentions with good charts…
We could continue tracking the scrips and discuss as it goes along…
Keep em coming…

If possible guide some fundamental pointers too…


(manivannan.g) #686

This is it looks for me. On the text book rules, wave 1’s length is 80%, so if we apply that to wave 5, from 490, 882 would be the top of this cycle.