SCI-2-BOTTOM'S UP - ACCUMULATE

SHIPPING CORPORATION OF I SCI NDIA
CMP: 208.80; RSI:48.50
As per wave analysis, ABC correction cycle is at its last stage and fomed a bottom. Its good time to accumulate the script, between Rs: 200 to 225 zone; stop loss: 187
Upside breakout will be confirmed once script closes above 238.5
Near Term Target 1: 280; (2 months time frame)
Medium Term Traget 2 : 330-351 (4 months time frame)

Comment:

SCI, daily circuit has been changed to 20%, It should break the upper resistance (R1) of 238.15 in coming days; Once broken and SCI closes above the R1 with higher volumes, SCI march towards 280.
Happy Investing

Trade active:

Accumulate the script at every dip, soon the script will be out of time correction box & will march northwards. Those who wanted to take new position should buy in a range of 425-435, with a stop loss of 410.

Trade active:

Stock is near to its completion of sideways consolidation, soon it will be out of consolidation box, and should be ready for the breakout. This is a suitable time for the new investor to make a position in the script, while existing investor can hold the position with strict stoploss of 187. New Investor can accumulate the stock in range of 195 to 205 range.

Trade closed: target reached:

SHIPPING CORPORATION OF INDIA; CMP: 345.65;

As predicated on March 2024; SCI has give a breakout in last 2 days and conquered the medium term target 2 was achieved well within the stipulated timeframe. I am closing this thread and soon come up with, new chart analysis for SCI based on the current data points.