TRADE SETUP_ 10% upside for COROMANDELThis specialty chemical stock is seen in a beautiful Elliot wave structure since the Jan 2023 and has outperformed not only its peers but also major Indian Indices.
The stock recently had a steep and swift decline in October. This very declined was in fact the wave iv of wave 3 and now the stock has kicked off in the Wave v of Wave 3 structure.
It would be wise to wait for a small dip in the stock(towards 1070-1080) to make an entry and ride next wave up towards the 1215 zone.
Note*- Please do own your own research and analysis before taking up any financial positions.
Indianstocks
NIFTY Excellent long-term buy opportunity.Nifty 50 Index (NIFTY) has been trading within a long-term Channel Up pattern since the June 17 2022 low and recently has found itself on a correctional 1.5 month wave under the 1D MA50 (blue trend-line) towards the 1D MA200 (orange trend-line).
Last week the 1D RSI breached the 30.00 oversold mark and immediately rebounded. It hasn't been that low since June 17 2022, which was the very start of the long-term Channel Up. As a result, those are indeed technically underpriced levels and this Channel Down correction on the RSI resembles the bearish leg of August - September 2022, which stopped before the 0.5 Fibonacci retracement level and resumed the Channel Up uptrend.
As a result, if the 1D MACD forms a Bullish Cross (as October 17 2022), it will confirm the oversold bullish reversal signal of the RSI. As long as the 0.5 Fibonacci level (18530) holds, we are bullish on the index, targeting the -0.236 Fib ext at 21000 (which is where the December 01 2022 Higher High was priced). It has to be mentioned that the symmetry of the Channel Up rallies is indeed quite strong.
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NIFTY Shifting to a long term buy.Nifty 50 turned oversold last Thursday on the 1D technical outlook and that attracted investors which restored the timeframe from oversold to just bearish (RSI = 38.950, MACD = -141.600, ADX = 34.223). This shows considerable buying strength, a little over the 1D MA200, a support level that is holding since April.
The price action look very much like August-September 2022, when again a nearly oversold 1D RSI on the 1D MA200, kickstarted a rise to a HH on the 1.5 Fibonacci level. We see a similar trend emerging, so take this opportunity to enter in its start and target again the 1.5 Fib (TP = 20,950).
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TATA Consumer ProductTATACONSUM - The idea is based on the Elliott Wave Theory. A five wave pattern has clearly completed on the stock with an ending diagonal in wave 5th.
This suggests that a correction will take place to 50% to 61.8% fibonacci level. So a correction towards 800 is likely in the coming weeks. As markets are also weakening due to global concerns, this is where technical and fundamental analysis are forming a balance.
NSE:Lupin -trend change on card???
NSE:LUPIN
Lupin Limited is an India-based pharmaceutical company. The Company develops and commercializes a range of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs) in over 100 markets in the United States, India, South Africa, and across the Asia Pacific, Latin America, and others. It offers vitamins, minerals, supplements and neurological products. It has presence in the cardiovascular, dialectology, asthma, paediatrics, central nervous system, gastro-intestinal, anti-infectives and nonsteroidal anti-inflammatory drug therapy segments. Its complex generics portfolio includes Filgrastim, Peg-Filgrastim, Etanercept and Albuterol, and others. Its biosimilar products include Filgrastim, Peg-Filgrastim and Etanercept. Its specialty products consist of Solosec and NaMuscla. Its over-the-counter products include Softovac, Lupizyme, Aptivate, Lupisafe, Be One, V-Bath, and others. It supplies APIs for anti-retroviral, anti-malarial and others.
Disc: Invested, please do you own research
Focusing on IRCTC after a long time Finally the IRCTC is in a good upward trend and we will see a good response of news in IRCTC very soon.
1- A long old uptrend line is following and giving good support to this new uptrend.
2- Now the downtrend is over for sure.
3 - For around 2 trading days there will be more consolidation but don't be surprised if the 760+ target is achieved in this month .
ASIAN GRANITO INDIA | DOWN TREND BREAKOUT PATTERNDOWN TREND BREAKOUT STRATEGY
Entry Price - 80₹
SL - 30₹
Targets - 130,200,300,390+
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Stay tuned for daily updates, in-depth market analyses, and real-time trading scenarios to witness firsthand how we transform from Zero to Hero in the trading world. My Only aim is to empower you with the knowledge and skills necessary to navigate the complexities of the financial markets successfully.
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HAPPY TRADING 👍
GVK POWER & INFRA | BEST PENNY STOCK TO NOWEntry Price - 9₹
SL - 4.5₹
Targets - 20,27,40,53,90+
In this channel, I share my expertise in trading strategies, technical analysis, and market trends to help you make informed decisions in your trading ventures.
Stay tuned for daily updates, in-depth market analyses, and real-time trading scenarios to witness firsthand how we transform from Zero to Hero in the trading world. My Only aim is to empower you with the knowledge and skills necessary to navigate the complexities of the financial markets successfully.
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
HDFC Bank about to BreakOutThe idea here is about HDFC Bank.
Mentioned below are the points to be considered
Points as per TA on a Daily & 4H Chart:
1. Awaiting break out of Falling wedge.
2. Butterfly Pattern completed with entry point confirmed.
3. Waiting for close above 20 EMA = 1550 on 1D chart.
4. RSI is at 44.30 on a Daily Chart.
5. MACD crossed above signal line on 11th Sept 2023.
6. Hull Moving Average is a Buy Signal on Daily & weekly chart.
7. Price may retest the breakout point.
Projected target as per Butterfly Harmonic pattern provided in the chart.
Stop Loss: provided on chart.
Disclaimer: “The above is an idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Cheers.
COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE?COULD INDIA BE THE SAVIOR OF THE USD’S DOMINANCE?
The BRICS alliance aims to dethrone the US dollar’s global supremacy.
India’s rapidly growing economy has led to speculations about its potential role in this shift.
Despite being a BRICS member, India maintains strong economic ties with the U.S.
In the dynamic landscape of global finance, where the BRICS alliance is sharpening its talons, aiming at the soft underbelly of the US dollar’s supremacy, India emerges as a beacon of hope for the greenback.
While the BRICS coalition might assume they have the unwavering support of all its members in their quest to topple the dollar, India’s economic trajectory and diplomatic allegiances paint a different picture.
DWARIKESH SUGAR - SWING TRADING FOR 10-15 DAYS" PARALLEL CHANNEL BREAK OUT "
High Volume Based
Entry level - 98-100
SL - 90 (with previous candle below level)
Targets - 107,113,118+
Market Capitalization of Dwarikesh Sugar stock is Rs 1,923.50 Cr.
#DWARIKESHSUGAR
Disclaimer - All information on this page is for educational purposes only,
we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made.
Request your support and engagement by liking and commenting & follow to provide encouragement
HAPPY TRADING 👍
NIFTY: Relentless rally. Enter on the next pullback.Nifty 50 is having a relentless rally and is almost on overbought technicals on the 1D timeframe (RSI = 69.294, MACD = 68.470, ADX = 39.696). This calls for a short term pullback to the 1D MA50 as a similar fractal did in October 2020. Harmonic Bullish Cross relation on both fractals as they started the long term rallies after crossing above the 1D MA50 following prolonged Bear Markets.
We are on a symmetric 1.236 Fibonacci top and should find Support on the 0.786. We will buy there, targeting the 2.0 Fibonacci level (TP = 20,760).
Prior idea:
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#ALOKINDS TRADE IDEA SETUPGreetings Folks,
today i have prepared a setup on ALOKINDS on NSE
the setup is as follows
- the stock is in good uptrend
- right now in my view it needs retracement
- there is a imbalance which needs to get filled for further uptrend
- price broke the previous highs with good volume
dont play with fire, always use predefined stoploss
Ye Bandhan toh pyar ka Bandhan haiThe stock price has retraced above 50% from the previous downtrend in the daily time frame. It has formed an ascending triangle formation with a flat resistance and higher lows in support trendline with an increase in volume. The breakout from this pattern can take the stock its recent high levels again.
Entry - Abouve 246
Target - 272
Stop Loss - 229
JM Financial Long Term View JM Financial is forming a Symmetrical Triangle and has also given Breakout.
Entry is at 85.50
Target is 192.30
Stop Loss is at 60.50
(Note:- This View is purely based on Technical Analysis and is for educational purposes only, please consult with your financial advisor before taking any trade).
Triangle burst Elliottwave pattern in Global EducationThe Global Education chart looks so good when it is making a triangle pattern.
The five waves such as the abcde of the triangle are complete and it is directed upward.
The move from here is near about 50%.
Play with your risk and you will earn good money on your capital.
Thanks