Bullish outlook on Edelweiss. This could potentially be a turning point from the weekly chart, resulting in this market shirting into a 'buy program' and seeking high prices.
The eye symbol resides above old highs - a place where liquidity would be resting in the form of buy-stops. Think of the sellers who are making money selling short, were would there stops...
Edelweiss Group is an investment and financial services company based in Mumbai, India. It is co-founded by Rashesh Shah and Venkat Ramaswamy.
Founders: Rashesh Shah; Venkat Ramaswamy
Assets under management: 750 billion INR (US$11 billion)
Revenue: 96.02 billion INR (US$1.3 billion, 2020)
Founded: November 1995
Headquarters: Mumbai, Maharashtra, India
Total...
In EDELWEISS FIN SERV , A fine ascending triangle pattern is formed. It has already given a breakout from the resistance level with good volumes.
A good amount of accumulation has been observed with the help of volume profile which suggests that strong hands are making positions in the stock. So, we can expect a good move in EDELWEISS FIN SERV. The stock has...
This analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF as well as on Weekly TF hence it may take few days to several weeks for price to reach the given target.
Stock gave good breakout with volume from H&S Pattern. It came down to retest the level and now has formed very good reversal pattern (MORNIGN STAR PATTERN)....
The analysis done below is purely based on price action & chart patterns.
Double Bottom (W) Pattern is a popular chart pattern in price action trading.
In ABFRL chart (Daily TF) that I have shared here, traders can note that the second bottom is formed above the first bottom. (same is described with help of small image in the chart)
In such cases where the...
After bottoming out at around Rs30.10 during the Corona crash, since then price action is trapped in a 'broadening rising wedge' pattern which is looking juicy for the next 100% gain (from wave 2 to 3).
Volume profile lends confidence that the next sell off zone Rs105-Rs120.
Will update the chart in every 15 days.
