About meManaging Partner @ MoneyC₹aft (SEBI regd. Investment Adviser).CFA all levels cleared. Books-Exercise-Meditation:Mind-Body-soul.Uses movie dialogues for better conversations. Sincere not serious. Ex- binge watcher & a perpetual jocose.
The key question all crypto investors/ speculators have.
Will this black line sustain?
A union of support & 61% retracement?
If it stops here then good otherwise more pain to follow it seems.
P.s. no positions.
The stock has broken out of 10 years of range. Volumes like that were seen a decade ago atleast. Is smart money giving another attempt to India's Biggest lender? Will it Exceed HDFC Bank's Market Cap this bull run.
Well, time will tell.
Stock was falling for the past 10-12 days which was ended by yesterday's green candle. It made a morning star pattern. Confirmation came after today's green candle. It was formed at good support level which was coincidently also 50% retracement of the last move.
People have written obituaries about this stock, as it is not moving since March 2020.
Stock has also closed below its 200 ema on a daily chart (which is generally considered bearish sign)
I may be wrong here, but what i see is stock is nicely moving in flag formation on a weekly chart. It is consolidating for now.
I will enter once that level breaks.
The stock has broken out of its 10-12 year channel on the monthly charts. Volumes are huge. We have to wait for january to end to see whether this breakout sustains or not. It definitely looks interesting.
p.s.- I may be biased as i am already invested from lower levels.
MRF, India's biggest tyre company has made a new "all time high" today post consolidating for 2.5-3 years. Markets are over heated for ultra short term but the risk-reward is good here.
Plus the entire auto, auto-ancillary and tyre space is in uptrend.
Stock has confirmed an inverse Head & Shoulder Pattern breakout.
Stock has also broken a long term trend line at the same point.
First resistance is around 850 levels post that previous all time high.
Inverse Head & Shoulder can take the stock to 1000+ levels in few months to an year.
Fundamentals are pretty strong on various parameters like earning, pedigree,...
Stock has crossed all resistances.
Interesting thing about all time high stocks is that since all buyers are in profit; they don't want to sell leading to less supply. Which takes price even highrt.
Disclosure- Holding from lower levels