📌Big fall from fair value
📌Consolidated base formation highlighted in yellow
📌Good spike to towards fair value
50% retracement and gets weekly EMA support marked in red. That would have been an excellent place to enter. But we failed to notice.
📌Now forming inverted H&S pattern, price is currently at 2nd shoulder. Good place to enter. Price is also getting EMA support in 4H and daily TF.
📌This pattern could push price towards 37-40 range.
📌40% gains possible in next few months.
📌Up Trend looks healthy and trustworthy.
📌Still Have strict stoploss.
Exit immediate if price traded and closes below the H&S shoulder trendline.
📌Fundamentally the share looks weak, it was weaker even before but its turning around now. Turn around recovery is ongoing but not completed, so risks are still high.
📌Recommendations
Good to buy here for a swing trade, expect 40% gains in medium term if all goes good. Have tight and strict SL.
📌For long term, good place to begin accumulating small qty. Once it gets back into its fair value, check fundamentals and financials to know if turn around is true for regular buying.
📌Consolidated base formation highlighted in yellow
📌Good spike to towards fair value
50% retracement and gets weekly EMA support marked in red. That would have been an excellent place to enter. But we failed to notice.
📌Now forming inverted H&S pattern, price is currently at 2nd shoulder. Good place to enter. Price is also getting EMA support in 4H and daily TF.
📌This pattern could push price towards 37-40 range.
📌40% gains possible in next few months.
📌Up Trend looks healthy and trustworthy.
📌Still Have strict stoploss.
Exit immediate if price traded and closes below the H&S shoulder trendline.
📌Fundamentally the share looks weak, it was weaker even before but its turning around now. Turn around recovery is ongoing but not completed, so risks are still high.
📌Recommendations
Good to buy here for a swing trade, expect 40% gains in medium term if all goes good. Have tight and strict SL.
📌For long term, good place to begin accumulating small qty. Once it gets back into its fair value, check fundamentals and financials to know if turn around is true for regular buying.