Target 900 plus
1) Stock possibly in the process of rounding bottom (RdB) formation.
2) Stock is currently forming a strong rectangular base in the bottom, with the high of the base at the Stocks first ever price tick open.
3) Stock more likely to break the high of the base as significant volumes seen in last few trading sessions and...
I'll be getting into a long trade 1st thing on Tuesday.
SL would be 449 and Target would probably be 507 - 518 - ( I'll exit if I'm in doubt )
Tuesday (16-Aug ) being the Results Day, I'm expecting some screwup to happen.
Take the case of SBIN, The results were pretty bad and yet Stock Prices Shot up. However, the Chart did Show Signs of a Bounce the previous...
The price action has reached to the bottom and now we have noticed a breakout from a prevailing downward trendline which indicates a positive sentiment emerging in the price action. I have also noticed a MACD crossover and also RSI getting out from oversold areas. This also indicates positive sentiments. On weekly and Monthly chart I noticed a double bottom and...
Justdial seems to be in an upward correction. We might have a shorting opportunity below the lower trendline break (of the small upward channel) as it happened sometime back. Following this push down, there's a potential for the start of a big up move.
It looks like a completion of a Elliott wave cycle as we can observe 5 impulse moves to the upward and 3 correction moves to the downside, retracing the entire impulse move by 50%.
As per the analysis, it is a good time to take a long position for the next month future expiry.
Trade Long, Trade Safe.
The company has no debt and rising income that suggest long term healthy prospect in the coming years.
As per technical, the Elliot wave completion of wave 5 and now I expect three reversal waves to levels 1090.
It is an ideal time to accumulate this one.
Stay long, stay invested.