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SHALBY LTD

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SHALBY LTD's Elliott Wave AdventureSHALBY LTD Technical Analysis Hey, fellow traders! 🎉 Buckle up because SHALBY LTD is about to take us on a thrilling ride! 🚀 Elliott Wave Analysis: First, let’s break down what the Elliott Wave Theory is telling us. The stock price has been dancing to the tune of these waves quite beautifully. Wave (3): The party started with a powerful uptrend, marking the end of Wave (3) around December. The stock soared, leaving us all in awe. ABC Correction: Then came the correction phase (like a brief rain shower at a sunny beach). We saw the price dip into an ABC correction, finding support around INR 210.35, completing Wave (4). Wave 1 and 2: Recently, the stock broke out from the corrective phase, kicking off a new motive wave. The breakout from the resistance line (marked as Wave 1) was quite a spectacle! It faced a slight pullback (Wave 2), but that’s just the stock catching its breath. Trendline Breakout: Now, here’s where things get exciting! 🚀 Breakout with Volume: The price smashed through the resistance trendline like a champ, backed by strong volume – the kind that makes you sit up and take notice. This breakout suggests we’re gearing up for Wave 3 of the new cycle, which is typically the most explosive and profitable wave in Elliott Wave Theory. Current Price: As we speak, SHALBY LTD is trading at a cool INR 310.50. The price action has shown strength, indicating that the bulls are in control. Invalidation Levels: No analysis is complete without some risk management: Nearest Invalidation Level: Keep an eye on INR 264. If the price dips below this level, our bullish scenario might need a re-think. Major Invalidation Level: The ultimate line in the sand is at INR 210.35. If the stock breaks below this, it would invalidate our current wave count, and we’d need to reassess. Targets: Let’s talk potential profits – the sweet part! Short-term to Mid-term Targets: The next wave up (Wave iii) could see prices pushing past INR 340-370-380, and then might be small dip of (Wave iv) and then finally (Wave v) where the bulls really have their way, we’re looking at targets beyond INR 400! 🌟 Conclusion: So, here we are, sitting at INR 310.50 with a bullish outlook. The trendline breakout, supported by strong volume, suggests we could be in for some exciting upward moves. Keep those invalidation levels in mind and let’s ride the waves to potential new highs! I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Happy trading! 🌊📈 Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:SHALBYLong
by RK_Chaarts
2
Life time High fundamental Let's begin analysis Today stock SHALBY Ltd •This stock was listed in DECEMBER 2017 but stock at 210 level work for that time as support but 2018 March this support break down 40 level it's 400+% down from High level. •after 400% down stock trying hit and breakout 210 level in August 2021 but it work as resistance. •stock come upto 100 leve from resistance level of 210, from 100 level stock creating higher high and High low formation. •Now stock break resistance of 210 with High valume, the valumes are given idea about accumulation of the stock. •keeping 185 as Stop loss get chance 280+, stock life time High also 270 •risk reward ratio 1:2 no recommendation for but and sell
NSE:SHALBYLong
by investigationofchart