RS SOFTWARE-CHART PATTERNS AND ELLIOT COUNTS- AN INVESTMENT PICK
Updated
HELLO FRIENDS,
Here I have shared chart pattern and possible ELLIOT WAVE counts of RS SOFTWARE, which showing the uptrend of this stock.
As per chart pattern, this stock is following the CUP AND HANDLE PATTERN
which shows the BULLISH TREND of the stock.
the above image confirms that as per guidelines of Cup and Handle pattern, volume contraction must be there while forming cup
after giving breakout with significant volume, the stock retested the support trend-line which previously was resistance and started its continuation in upward direction.
As per Elliot Wave, Stock has completed its correction as WAVE ABC from 829 level to 9.55
New impulse BIGGER WAVE 12345 has started from 9.55 and now stock is in wave (5) that will complete the bigger wave 1
And wave 2 will again give a dip as correction and again bigger Wave 3 will start.
This way the stock has huge space towards north.
DISCLAIMER
I am not SEBI registered analyst.
My studies are for educational purpose only.
please consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Here I have shared chart pattern and possible ELLIOT WAVE counts of RS SOFTWARE, which showing the uptrend of this stock.
As per chart pattern, this stock is following the CUP AND HANDLE PATTERN
which shows the BULLISH TREND of the stock.
the above image confirms that as per guidelines of Cup and Handle pattern, volume contraction must be there while forming cup
after giving breakout with significant volume, the stock retested the support trend-line which previously was resistance and started its continuation in upward direction.
As per Elliot Wave, Stock has completed its correction as WAVE ABC from 829 level to 9.55
New impulse BIGGER WAVE 12345 has started from 9.55 and now stock is in wave (5) that will complete the bigger wave 1
And wave 2 will again give a dip as correction and again bigger Wave 3 will start.
This way the stock has huge space towards north.
DISCLAIMER
I am not SEBI registered analyst.
My studies are for educational purpose only.
please consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Note
Good evening Traders and Investorsthis stock RS SOFTWARE as I mentioned the name as AN INVESTMENT PICK is now giving 215% in less than a year.
the stock PE is suggesting now that the stock is still cheap so it might have more potential towards north but if you are invested in this stock, I suggest to book your half profit and trail the rest and if you are satisfied with 200% you can surely book whole of your profit because WHAT YOU BOOK IS YOURS and WHAT YOU SEE IN YOUR PORTFOLIO IS JUST A VIRTUAL FIGURE and IS NOT YOURS TILL YOU BOOK.
THANK YOU
stay connected for more such stocks.
Note
GENERALLY,if any stock having cup and handle chart pattern we expect the targets equal to 3x of the depth of cup which is shown in the below updated chart
Note
power of CUP n HANDLE with supporting technical indicators.updated chart on feb 8
result is below.
Disclaimer
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