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LIC India goes into a 'Wave 3' impulseThe largest insurer in India showed a massive volume and price gain on Friday's trading session bringing itself into some spot light. The stock was in a corrective triple three structure from the start of Sep. until Nov 13 when it completed the correction with a truncated 'wave 'z''. In a matter of only 7 trading days after having completed the correction, the stock is up 12% from bottom 'z'. While Friday's move might make it look like the stock has over-shot a bit but in totality of things the 'wave 3' is not even half-way from its target. INR 780-790 zone is the projected wave 3 target. It makes sense to accumulate this stock between INR 655-685 levels before it jumps above the INR 700 mark. CMP 677 Support zone 655-660 Target 780 Note*- Please do thorough analysis of any financial instrument before you trade/invest in it. The views expressed here are my personal opinions and not an advice to buy/sell.
NSE:LICILong
by neeraj_2_sharma
Trade Setup_10% upside in GMRINFRAThe stock gave a successful breakout from a falling trendline and managed to close above important resistance level of INR 60. The stock slid 21% in 2months between Oct-Nov. on back of contracting volume which in fact should be seen as a bullish sign. The Friday low of 57 is crucial support for the stock now and can also be used as a SL. The stock should now attempt to rally towards its Oct. high of INR 66.75(10% from CMP). CMP 60.35 SL 57 TARGET 66 NOTE*- Please take any trading/investing decision only after doing a thorough research in any financial instrument.
NSE:GMRAIRPORTLong
by neeraj_2_sharma
Trading cannot get simpler than this_BRITANNIA_TRADE-SETUPThe good old support and resistance play ongoing in Britannia. The stock first broke out on Nov.7 from a 2 month old resistance zone of INR 4600-4650.It has then again tested the same breakout level on Tuesday's trading session. This retest seems to have re-energized the engines of this stock that is cruising forwards quite strong from past 2-trading sessions. Another minor resistance of 4710-4730 has been taken out in yesterday's trading session as well. The stock shall now advance towards INR 4960 which could be used as a target level for a short term trade. INR 4710-4730 shall now be considered as a support area for the stock in case it pulls back a bit on smaller timeframes. The pullbacks are always great to look for to enter into a trade. Note*- The views are based on personal opinions/observations. Please do your own research before making any trading/investing decisions.
NSE:BRITANNIALong
by neeraj_2_sharma
Brandywine Realty Trust*Investment opportunity* On the above weekly chart price action has corrected almost 80% since January 2022. An excellent long entry now exists. Why? 1) Price action and RSI resistance breakouts. 2) The falling wedge breakout confirmation. 3) The falling wedge target is measured to 17 dollars. 4) The macro structure prints a large flag pattern on the 3-month chart with a 150 dollar target where previous support is formed since 1991, fantastic. (see below) 5) No share splits. 6) Dividend yield 15.11% !! Is it possible for price action to collapse further? Sure. Is it probable? No. Ww Type: Investment Risk: <= 6% Timeframe: Act now Return. 200% and 2000% excluding dividend yield 3-month
NYSE:BDNLong
by without_worries
2
ACC can rally 25% from CMPThe Cement company is completing a zig zag correction(ABC or 5-3-5) to an impulse wave it had shown in Mar.2023. This impulse can either be considered as beginning of a new bull market and hence be considered as wave 1 or if it is to be considered as a corrective wave it can be marked as wave 'A'. That does not change the fact that a 5-wave impulse is always followed up by another 5-wave advance. In this case we may call it wave 2 or wave "Wave B".This wave is projected going towards 2300-2400 zone(25% from CMP). On the downside 1800 is good support for the stock which has now also approached the channel support. Note*- Views expressed are personal opinions/observations. Please do your own research before taking up any trade.
NSE:ACCLong
by neeraj_2_sharma
The IGL stock is at good entry point currently.A picture says a thousand words. Well, I have have tried to depict everything i need to say about this stock onto the chart. To summarize it, we are currently near 61.8% retracement of the impulsive wave we saw in the stock between Mar.2022 till May 2023.A new impulse wave from here (wave 3) is expected to begin that should take the stock towards the 600 mark in the near future. Note*- this chart is for educational purpose only.
NSE:IGLLong
by neeraj_2_sharma
Trade_setup _ 20% upside potential in BF Utilities.BF utilities is a Kalyani Group owned company that engages in infrastructure and power generation through wind mill technology. The chart shows the stock giving a successful breakout from: i. Inverse head and shoulder pattern. ii. Horizontal resistance zone(635-655) The stock closed above both these significant resistances with a spike up in volume and a Bullish 'Marubozu' candlestick. The target for the Inverse head and shoulder patterns projects to a target almost close to the previous swing high(around 800-815 zone). On the downside 630 should make a good area to consider for a SL on this stock. *Note- Views expressed here are based on personal opinions/observations. Please do your own research/analysis before taking any financial positions.
NSE:BFUTILITIELong
by neeraj_2_sharma
Lyka Labs is in a strong 'wave 3'The stock had its last impulse move in may 2023 which was a quick 40% move in a month's span. From July end till mid Nov. the stock underwent a zig zag(Elliot wave) correction and corrected 50% of the impulse. Now this week the stock is setting out very strongly in the 'wave iii' mode. The recent volume on this stock is unmatchable to any of its recent months volumes. The stock is giving a multiple layered breakout by: i. breaking out from a falling channel ii. breaking out above important horizontal resistance area of 120-125 The stock faces no major resistance till around the 160-165 mark making it a smooth road ahead. Any small dip/pull-back would be a good opportunity to enter the stock. Note*- Please do your own research/analysis before taking entry in any stock. Views expressed here are my personal observations/opinions.
NSE:LYKALABSLong
by neeraj_2_sharma
Marico is coming out of correctionAs the chart already depicts, Marico is now expected to have started the wave iii of 3 with the breakout from the falling wedge pattern. One thing some way wonder is, what is with all those projections? Well, to reach from CMP(530) till 660, it will take several moves for price to do it, as it does not shoot up at once...these several moves will form the various subdivisions of wave iii of 3. According to the Elliot theory this is how price always moves. A bigger move is always made up of several smaller moves put together.(both impulse and corrective moves).You can always breakdown any major impulse or correction on any timeframe into much more refined and more classified waves if you deep dive into one smaller timeframe than the current. Now coming back to the chart, the stock took support from a previously tested crucial support zone which also happens to be the 50% retracement mark of the impulsive rise stock witnessed from Apr.2023 till Oct.2023.Stock is also giving a break out from a falling wedge. On the upside level 550 will be the first major hurdle on its way towards 600. On the downside the low of 516 is an important support for the stock.
NSE:MARICOLong
by neeraj_2_sharma
A good place to enter Havells.Once again i have tried my best to make the chart self explanatory so that i do not write boring paragraphs about it which i am sure no one wants to read(:P). The stock is making a fresh move and can reach 1700 mark going into 2024-2025. For a short term trade too, the stock wouldn't be a bad bet since it offers favorable risk reward from current levels. Note*- This chart is for educational purpose only. Kindly do your own research/analysis before taking any financial positions.
NSE:HAVELLSLong
by neeraj_2_sharma
8
Redington_65% upside potentialRedington or Redington Group is an organization of companies offering services and products in the field of mobile handsets, mobile accessories, information technology services, artificial intelligence, big data analysis, 5G communications, Internet of Things and supply chain management. The company looks all set to move into a wave 3 structure now which can take the price from current 154 level to 250(a handsome 64% return). The stock had completed its last impulse move in Dec.2022 and that was the Wave 1 high. From Dec2022 till the most recent low of oct.2023, the stock was in a 10month long corrective wave 2 pattern. The correction now seems completed(structurally all legs achieved) and therefore the stock should now look to advance towards the projected wave 3 target of 250 going forward into 2024. Note*- This chart is for educational purpose only.
NSE:REDINGTONLong
by neeraj_2_sharma
2
HBS.N0000 - Falling wedge patternFalling wedge pattern and bullish divergence in daily chart. Wait for a pullback and target around 20-25. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:HBS.N0000Long
by rukshan2102
TRADE SETUP_25% Target in NRB BEARINGSNRB Bearings Limited, engages in the manufacture, marketing, and sale of ball and roller bearings for original equipment manufacturers(OEM's) in India and internationally. The stock is displaying clean(without overlaps) Elliot waves since March 2023 bottom. Wave v of the current structure is now kicking in with a projected price of around 330-340 zone. In the even bigger picture this anticipated wave v would become the wave v of a bigger wave 3 bringing the wave 3 to a pause. From current levels however the stock offers good risk/reward for a short term trade with possibly 25% gains to be made. CMP 268 SL 253 Target 330-340
NSE:NRBBEARINGLong
by neeraj_2_sharma