Tesla-Follow-up
CMP 180
Is it going as per projection.
Today it breached import support level of 180.
It seems that 166-170 is about to come (it is next support level)
Monthly Chart
Acrysil Follow-up
CMP 491
Going as per wave C correction- shared 6 months back.
Nifty View -Short term
From EW prespective , Nifty has given a 5 wave decline on hourly chart . Now we can take this as A (or i) . And currently it seems to be in wave B (or ii) - the upside potential of B seems very limited.
Once B is complete, we might see a C wave decline ( or iii) . C can be equal to A anf then we might see a little bigger bounce. But if the C happens to be (iii) then we can see much deeper decline in coming weeks and months.
Hourly Chart
In short , time to be cautious.
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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Aurobino Pharma -Follow-up
We posted this 25 days back. Price was 514, it went up to 572. But now back to the jouney of completing C wave target.
Weekly Chart
Could You kindly give your study on Amara Raja please?
The above view is temporarily suspended.
With US core inflation coming down, we might see some short-term rally across the world.
In India- a rally of 400-600 points expected from current level.
Disclaimer: These are personal views ,can go wrong.
Amaraja Battery
CMP 625
On monthly chart
After Covid lows, it seems it finished its wave 2 correction and now it is bouncing back in wave 3.
But we need few confirmations .
Monthly MACD has turned in buy mode, and that is a good indicator.
Volumes are also coming in.
Now it needs to cross and close above 38% retracment level and that is also where it would cross 40 months moving average -that level is between 650-660.
Next resistances are at 720 and 800.
If it is able to cross these in coming months then it can go beyond all time high .
In short , position sizing is important. one can keep adding if it keeps crossing the above said hurdles.
On weekly chart, it shows that the bounce of first wave was an impulse wave and that is a good news . Let’s see the progress in coming weeks.
Keep in consideration that these are weekly and monthly charts, these take time to play out. We would also keep a watch and would keep posting follow-ups if something changes.
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
TVS Sri - Follow-up
CMP 2989
We covered it 8 days back at 2586. It seems that next wave has started the new wave. Let’s keep a close watch.
Fiem -Follow-up
CMP-1820
First covered at 1200 few months back, it is 50% up since then.Seems that a fresh upside wave is starting. Let’s trail and track.
Hi Stageinvesting, views on Manappuram Finance?
China - Is bull run starting?
Shanghai Composite - 3100
Not doing much for last 4-5 years. But some green shoots are visible now.
Let’s keep a watch.
Daily Chart
Manappuram Finance
Well , it is showing initial signs of recovery.
Daily/Weekly/Monthly MACD are in buy mode.
DAILY/Weekly RSI>60 …stock is making a base for last few months.
Need watchout resistance near 123-127 zone to take the next call.
Weekly Chart
Hi Sir, analysis on Coal India and LTI?
Hi Dear Sir ,I am impressed by your technical analysis skills and so I have become your regular follower since then. If you shed some lights on Greenpanel Industries, then it would be nice of you.
Green Panel
It had a good run from 24 to 630 in 2020-2021 ( Wave 1).
Now it is is correction zone (Wave 2).
As depicted in the following chart- Wave C has met the first target ie. equivalent to C.
But it is yet to show the signs of stopping here as recent candles are not so encouraging as well as MACD is in sell zone in all timeframes ( daily/weekly/monthly) .
In these cases , wave C can be 1.38 % of A or 1.62% of A. (if a company commits fraud or overall market crash happens then price can go beyond these levels)
Better to wait and watch here - if it breaks previous low of 351, it can go to 290-300 (1.38% of A)
Worst case : if it does not stop there , a bottom should be made near 260 level ( 1.62 % of A) .That is also a level for 61.8% retracement of whole rise.And we also have a strong support between 260-270 levels.
Coal India
The whole rise from Covid lows seems to be corrective . So it is not a chart where one can buy and sleep . One needs to track and trail closely.
As of now, it has completed wave Y and is correcting. 20 WMA and lower level recent trend line is first support ( purple line) i.e. near 223-227.
If that breaks, we can see it going to 207 levels ie. 40 wma as well as an important support (red line)
Weekly Chart
LTI
CMP 5135
Like most of the other IT stocks , it is bouncing back.
It completed wave 1 in Nov 2021 and then corrected upto 61.8 % of whole rise in May 22. Many a times ,good stocks finish their corrections (wave 2) at this % of retracement.
Now the debate is - whether the rise after May 22 is a fresh wave (wave 3) OR it is a just a corrective rally . We’re currently considering it as a corrective rally due to macro -scenario,
As per the weekly chart, it can move upto 6100-6300 levels (wave Z as well as 61.8 % retracement of whole fall since May 22) . In short , it can keep moving between 5000 -6200 for next few weeks/months .The condition is that it should not break the lower purple line ie near 4900-5000. (in very short term, we might need to be extra watchful)
If t crosses and closes above 6200, we would review again . Whether the current rally is really start of THE next bull wave or there’s something else.
Weekly Chart
Sorry ,unable to provoide a very definite path . But that’s life, we need to tread between unceratinities to move ahead…
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
Hi Stage investing
Can u post your analysis on stock of MPS Ltd., Meghmani Organics, Laurus Labs, Motilal Oswal, Sequent Scientific.
Looking at what would be a good price to enter these stocks
Deepank
Well - won;t be able to answer this question.
No price is wrong for a fundamental long term investor if the company is fundmentally strong and is delievering consistent results.
For technical investors, a good price to enter is the price when the stock catches the momentum on upside.
Would request you to go through the whole Stage Analysis method . The method has been given several times in the earlier posts.
Sir can you look into Karnataka Bank? Holding the stock from 2017 onwards. Sitting at a very good CAGR
