Tranch1 - 22 shares at 3435
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price in range since Aug 2021, now started decline on 6 May i.e. broke previous support, will build at major supports
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI? No
2. At important support or resistance - horizontal - Yes - 3345
3. At important confluence of EMAs + price + support - Yes - Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - consolidating
4. Is there any trend continuation in play?
Currently in consolidation, may drop more.. next big support 3000
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising quarterly + Yearly... PE lowest in last 6 months - revenue and profit growth very strong
2. Are institutional investors/promotors increasing their stake - No major change, all constant
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price in range since Aug 2021, now started decline on 6 May i.e. broke previous support, will build at major supports
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI? No
2. At important support or resistance - horizontal - Yes - 3345
3. At important confluence of EMAs + price + support - Yes - Weekly 50
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - consolidating
4. Is there any trend continuation in play?
Currently in consolidation, may drop more.. next big support 3000
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising quarterly + Yearly... PE lowest in last 6 months - revenue and profit growth very strong
2. Are institutional investors/promotors increasing their stake - No major change, all constant
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.