Prestige estate Darvas box , Flag & Pole breakout
Hi All,
One of the looked up sector to invest in Indian market is the real estate sector. One of the leaders in this segment is Prestige estate. Real estate sector is on revival after almost 10-15 years in India. Fundamentally topline and bottom line is improving and will continue in time as the expectations.
Technically, the chart was in range bound move for last 2 years and now attempting a breakout on the first day of the week . This can be considered a bit early entry because the volumes say everything on charts.
Also when we look at last 5 years, we see a formation of flag and pole which is a bullish pattern.
based on Fibonacci levels and range box height the script can show levels of 650 800 first.
Once these levels are seen , we will further evaluate the company.
The risk reward is favourable where stop loss can be anywhere below 440 levels on weekly closing basis.
Note: the chart shared here is having logarithmic scale and candle is weekly time framed.
***As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :) ***
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ****
Happy trading !
One of the looked up sector to invest in Indian market is the real estate sector. One of the leaders in this segment is Prestige estate. Real estate sector is on revival after almost 10-15 years in India. Fundamentally topline and bottom line is improving and will continue in time as the expectations.
Technically, the chart was in range bound move for last 2 years and now attempting a breakout on the first day of the week . This can be considered a bit early entry because the volumes say everything on charts.
Also when we look at last 5 years, we see a formation of flag and pole which is a bullish pattern.
based on Fibonacci levels and range box height the script can show levels of 650 800 first.
Once these levels are seen , we will further evaluate the company.
The risk reward is favourable where stop loss can be anywhere below 440 levels on weekly closing basis.
Note: the chart shared here is having logarithmic scale and candle is weekly time framed.
***As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :) ***
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ****
Happy trading !
Trade active:
Hi,
When the script breaks all time high at the start of the week ie: Monday, then its a sign of strength. Today the stock is showing strength to make new all time highs and this is also an indication of stock showing strength :)
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ****
Happy trading !
When the script breaks all time high at the start of the week ie: Monday, then its a sign of strength. Today the stock is showing strength to make new all time highs and this is also an indication of stock showing strength :)
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ****
Happy trading !
Trade active:
Hi,
Hope you are doing well :)
If you read the description of the setup I provided on 5th June, Prestige estate is approaching Fibonacci levels of 650. As the script has consolidated near this level there is a strong chance that it will cross 650 with good volumes. Rather than booking profits, one can think of trailing the stop loss to 550 levels on weekly closing basis and keep riding this script. One can still plan to enter it and the risk reward is still favourable :) 800 can be seen as next level where I will again share view.
***As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :) ***
Hope you are doing well :)
If you read the description of the setup I provided on 5th June, Prestige estate is approaching Fibonacci levels of 650. As the script has consolidated near this level there is a strong chance that it will cross 650 with good volumes. Rather than booking profits, one can think of trailing the stop loss to 550 levels on weekly closing basis and keep riding this script. One can still plan to enter it and the risk reward is still favourable :) 800 can be seen as next level where I will again share view.
***As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :) ***
Trade active:
Hi All,
Hope you all are enjoying the ride from 500 levels or anywhere from levels mentioned :)
We need to continue riding this bull and now Stop loss need to to trailed to 1000 on weekly closing basis. Its bit deep but targets are rewarding too ie: 2000+ . The targets are calculated based on Fibonacci levels.
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Hope you all are enjoying the ride from 500 levels or anywhere from levels mentioned :)
We need to continue riding this bull and now Stop loss need to to trailed to 1000 on weekly closing basis. Its bit deep but targets are rewarding too ie: 2000+ . The targets are calculated based on Fibonacci levels.
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)