Hitesh Bhai (@hitesh2710) - Thanks for all the patience to answer each one of us and generosity in sharing knowledge.
// What’s your approach to have a broad view, gazing opportunities/green pastures across the market?
// 1st attempt to read a chart after reading books from ‘John Murphy’ and ‘Steve Nison’. Is the below sensible enough or way off?
Divis Lab, Weekly (commentary and image below):
- Support at price ~4000.
- Mid-March 21 till Mid-Oct 21, uptrend as a flag post formation from a price of 3167 till 5434.
- Mid-Oct 21 till End of Jan-22, flag formation with ~66% correction.
- End of Jan-22 onwards, consolidating in the form of an ascending triangle.
Expected target prices:
1- 5500 → ascending triangle pattern
2- 6500 → flag post formation pattern
Disc: Hold the stock.
@Storyteller - Although Hitesh bhai responded, his posts in the below thread (incase you are yet to explore) helped me to understand technical analysis in general and GMMA in particular.
/VP Chintan Baithak 2019 - Technicals for Long Term Investors