Swastik24

Swastik24

Exactly 6 months before I have shared my bearish view on Cochin Shipyard Ltd you can find in the link below. Now expecting a sharp decline of up to 60% from current level towards 880 level. The valuation is concerning and don't just buy because of business media promotions and the recent momentum. I have plotted the corrective pattern which I see clearly without...

Swastik24

A nice Cup with Handle pattern is forming in IEX. A good 90% ROI potential in medium term as per the technical chart pattern. Currently it is trading near it's median PE with great ROE & ROCE numbers, high margin due to monopoly with steadily growing EPS, which adds conviction for it's upside momentum. Please refer to the drawings for details. It has potential...

Swastik24 Updated 

Wave pattern shows I-II, 1-2 move is going to end once break out of falling wedge happens. It is at the initiation of wave 3 of III. Good to accumulate for multibagger returns in long term. Do your own due diligence before taking any action. Peace!!

Swastik24

Overall correction looks like ABC Zig-Zag where C wave has formed a falling wedge structure. Now price has given a bullish breakout of the falling wedge after showing multiple strong bullish divergences with RSI. Company already took the necessary steps to keep it's balance sheet healthy ahead of the rate cuts. In my opinion, the worst is over now and should be...

Swastik24

One of the most complex corrections came to an end. It has formed WXY double corrective pattern where W is ABC Zigzag & Y is ABCDE triangle. Entire correction lasted for more than 3 years & 3 months but in that duration company has shown revenue growth and they have increased their employees as they are expanding globally in the field of disruptive...

Swastik24

3rd wave of higher degree Wave III can start anytime soon. Good to buy above 351 with Stop loss around 310 for the following targets Target 1 : 1450 (310% ROI) Target 2 : 2300 (550% ROI) Do your own due diligence before taking any action. Peace!!

Swastik24

Price is moving in the final sub wave 5 of the ending diagonal wave C highlighted. The higher degree wave count shows an elongated flat ABC correction. Instead of catching the falling knife, wait for the price to close above 253 for averaging. Price is showing strong bullish divergence with RSI and with declining volume activity, trend reversal is expected...

Swastik24

Price is moving in a broadening wedge pattern which is also known as expanding diagonal. All the sub waves are 3 wave structures which are usually found in ending diagonal in wave 5 of an impulse or wave C of a correction. Currently price is in sub wave 4 of the primary wave 5 which is going to end somewhere near 3900 level. Wave 5 should end near 7700 level...

Swastik24

A sharp correction of almost 47% doesn't look like wave 4 by any means like others are thinking. An extended 5th wave is followed by a sharp correction. Seems like corrective Wave A has been completed and a small pullback Wave B is expected towards 2000 odd levels before further fall towards 900 odd levels as Wave C to form a Zigzag. I am just guesstimating a...

Swastik24

Further fall of 20% is expected, which will drive the price towards 27 level to complete wave Y. Sometime it takes longer than usual to reach the target. Do check the old trend analysis of Easy Trip Planners linked below. This is not a buy or sell recommendation. Do your own due diligence before taking any action. Peace!!

Swastik24

Reserves nearly doubled and borrowings got reduced by 60% in last one year. Shareholdings of the promoters have been declining since Dec 2021. Considering the fundamentals, price is available at fair value to initiate accumulation. Technically price is bottoming out to mark the end of a larger degree wave 4. In the first wave price became 13X. In the third wave...

Swastik24

Apollo Micro Systems Ltd. Technically price is moving inside a descending channel forming WXY corrective pattern as wave 4. As per conventional TA, death cross has formed on 5th August. Further downside is expected. Fundamentally it is overvalued, so it is underperforming since November 2023. During last 3 years, the company has been spending aggressively on...

Swastik24

Since December 2020 price has been moving in a down trend, it has formed a complex triple correction WXYXZ pattern. Looks like the wave II correction is over now and price is at the initiation of wave III. Wave III target should be around 910 level, which is around 330% from CMP and can be achieved in medium to long term (1 year approx.) If you are a conservative...

Swastik24

Price is moving inside cycle degree 5th wave of super cycle degree 3rd wave. Good time to buy as price is at the initiation of sub wave 3 of 5th wave. 5th wave will end somewhere around 2150 level. As per conventional technical analysis, price bounced from trendline support and price is showing strong bullish divergence with RSI on daily & weekly TF, signifying...

Swastik24

As the prices of commodities are soaring high due to increasing demand and inflation, Sugar & Ethanol prices will rise as well leading to improved operating profit margins. This sector is capital intensive, only the existing players will be immensely benefitted due to ethanol blending. Price to BV & PE is low compared to its peers. Changes in govt. policies can...

Swastik24

Entire paper industry is undervalued as of now, most are available at 40-50% below their intrinsic values. Andhra Paper chart looks most bullish with upto 10X ROI in 2-3 years. As per conventional TA, price broke out of trendline resistance and moving higher after retesting it as trendline support (Neon Green Line). As per wave theory, price has formed 1-2, 1-2...

Swastik24

Price has reached all time high in last trading session. A great 700% ROI potential even if it takes 3 years holding time. Strong fundamentals, fairly valued and recent break out from 1100 resistance zone after 7 years adds conviction to hold position for long term. Technically price is moving in the final 5th wave of a larger degree. Other targets are...

Swastik24

Overall chart seems like a zig-zag ABC pattern, where B wave formed a double combo WXY correction consisting of zig-zag (W) and an elongated Flat (Y). The higher degree wave C will be impulsive and can take almost equal time as wave A. Good to accumulate for the following targets: Short term target @ 1040 (55% ROI) Long term target @ 1535 (130% ROI within 18...