TIMKEN : trading at a attractive level for long term📊TIMKEN INDIA LTD.
Overview:
The daily timeframe chart of TIMKEN INDIA LTD. highlights critical levels, trend lines, and potential price movements based on Elliott Wave Theory . 🚀 Let's explore:
Key Levels and Zones:
Wave A and Wave B:
Significant peak ( Wave A ) and trough ( Wave B ).
A downward trend line suggests a bearish phase. 📉
Trend Line and Liquidity:
Trend line connects highs during the decline from Wave A to Wave B .
Watch the "Liquidity" zone near the trend line for resistance. ⚠️
Change of Character (ChOCH):
"ChOCH" point indicates a possible market sentiment shift. 🔄
Golden Retracement Zone:
Between ₹3,008.00 and ₹3,631.00 (Fibonacci levels).
This critical support zone demands attention for bullish signals. 🟢
Wave C Completion Extended Zone:
Between ₹2,677.00 and ₹2,777.00 .
A possible area for Wave C completion if price breaks lower. 🔻
First Target Zone:
Between ₹4,076.00 and ₹4,220.00 .
The initial upward target for a bullish move. 🎯
Stop Loss (Day Close):
Set at ₹2,641.65 to manage risk. 🛑
Analysis and Insights:
Current Price Action:
Trading near ₹3,001.05 , close to the bottom of the golden retracement zone.
A critical support level; monitor for bullish signals. 👀
Potential Scenarios:
Scenario 1: Price holds above the golden retracement zone → Target the first zone at ₹4,076.00–₹4,220.00 . 🚀
Scenario 2: Break below current levels → Likely move towards the extended zone at ₹2,677.00–₹2,777.00 . 🔽
Trading Strategy:
Long Positions: Above the golden retracement zone, aiming for the first target. 📈
Stop Loss: Place at ₹2,641.65 on a day close basis to manage risk. 🛑
Disclaimer: This is for educational purposes only. Always perform your analysis or consult a financial advisor before trading.
TIMKEN trade ideas
TIMKENDisclaimer:
Kind regards to all friends and members ,
Stock market investment is subject to 100% market risks. Our company is not a SEBI registered company. Please consult your financial advisor before investing. This is for learning and training purposes only. Market Traps administrators are not responsible for any financial gains or losses resulting from your decisions. You acknowledge that stock market investments are highly risky and that you understand the market risks involved. Hence any legal action is void.
Timken For Swing..!Timken's stock has recently been on a downward trend but is now displaying indications of a potential recovery. Analysis of the charts reveals the formation of an inverse head and shoulders pattern. This could make it a candidate for swing trading, with the initial target set at the 200-day simple moving average (SMA), followed by the upper trend line. Additionally, on the weekly time frame, the stock has been consolidating within a range for some time.
TIMKIN - Bullish setup Stock name - Timken India Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
Timken India Ltd *Timken India Ltd*
C&H Formation on Weekly Basis.
Price Trendline BreakOut Done.
Should Sustain, Then Good to Go!
Vol. BuiltUp. Should Continue. Watch it.
Trail SL with Upside.
Book Profit as per Risk Appetite.
Financials are strong.
Growing Sales, Profitability: Yrly / Qtrly basis.
Negligible Debt. Strong TNW. Satisfactory WC Cycle. +ve CF from Ops.
Increasing FIIs/DIIs Stake.
Do Your Own Research as well. This is an Opinion.
Happy Investing 😇
#TIMKEN - The Bearings Theme
Long at 2485 with an SL of 2375
Timken India Ltd is engaged in the manufacturing, distribution, and sale of anti-friction bearings, components, accessories and mechanical power transmission products for the customer base across different sectors. (Screener)
The bearings sector as a whole is showing very good strength when compared to the overall market. They have reported very good numbers inspite of high inflation environment prevailing now.
Timken is one of the best-performing stocks in this sector.
EPS of 16 v/s 7 YoY in Q4
EPS of 16 in Q4 v/s 9.2 in Q3
Price gapped up after earnings, Sustained the gap and then moved up with heavy volumes. Classic PEG(Price Earning Gap) example.
Strong Price action + Good Results makes it a very attractive buy at these levels. Since the market looks weak now, I have taken only 50% of the risk I usually take. Will look to average up as and when overall market sentiments improve.