Symphony Ltd. CMP – 899
Market Capitalization Rs 6,199.2Cr
Red Flags:🟥
High Valuation (P.E. = 54.4)
MFs are decreasing stake
Green Flags:🟩
No debt
Zero promoter pledge
FIIs are increasing stake
Improving annual net profit
Improving cash from operations annual
New Happy Candles Number – 60/100
Fresh Entry/ averaging / compounding after closing above...
Symphony is a big player in air cooler segment and the company is showing a buy signal under range bound trading strategy where the stock covers a range of price set it has covered multiple times in the past.
Buying level- 875
CMP- 885 (close to buying level)
Target price 1- 1216
Target price 2- 1593
Hope you understood.
Thank you for reading.
Have a happy...
Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
This is a pure technical play, I have done no research on the companny.
The chart looks very good with a great RR.
Any Ques
please feel free to comment.
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Stock has been consolidating in a symmetrical triangle from june 2021 and is respecting the resistance level.
If the stock closes above 1083 on daily basis, it can give a good target points.
Bullish target for symphony
1108, 1146
Wait for day's closing for today
technically price looks very attractive on charts . small range consolidation on weekly charts . one can buy symphony with closing basis stop loss of 885 for a target of 1355 and more.
This analysis is purely based on Price action. The analysis is done on monthly chart hence it may take one month to several months to achieve the final target. Traders must keep this in mind while trading.
As can be seen from the chart, 815 level is a MULTI-YEAR support level for the price. After multiple rallies, price has come down to test the support level...
This is a continuation the XAUUSD trade idea posted a while ago, where gold has been following my forecasts. I applied Elliott wave theory in market geometry to predict price fluctuations. As I found Elliotts studies so poetic and inspiring I decided to do a twist with the name :) we are going for the bullish 5th wave. Turn on your printing machines ;;;)
