TradingSutra

TradingSutra

SBICARD: LONG TERM INVESTMENT IDEA: Stock listed during corona-crisis and bottomed out in May-2020. After that stock gave a decent return in next one year and made a high of 1165 in Sep'21 when Nifty peaked. From there stock corrected lower and again reached to the listing price range and started showing some early signs of reversal. The current prices action...

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Renuka Sugar is currently forming an inverse head and shoulders pattern, a classic bullish reversal pattern that often signals the end of a downtrend and the potential start of a new upward move. The pattern is characterized by three troughs, with the middle one (the head) being the lowest and the two outer troughs (the shoulders) being higher and roughly equal....

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Allcargo Logistics has been trading sideways for nearly 20-21 months since its peak in November 2022, indicating a prolonged consolidation phase. The recent price action suggests that this corrective phase may be coming to an end, with the potential for a new impulsive move upward. With a strong support level identified at 58, this presents a strategic buying...

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Shyam Metalics appears to have entered its third wave as per Elliott Wave theory, signaling a strong potential for upward momentum. The third wave is typically the most powerful and extended wave in the Elliott Wave sequence, often marked by increased buying interest and a surge in price. Given the current technical setup, this wave could propel Shyam Metalics to...

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Prices have given a breakout of the neckline of Inverse H&S formation. The measured target of the pattern is coming in the range of 1200-1300.

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After a long consolidation and a complex corrective structure concluded at Apr'24 low of INR 995.7, stock prices have given very sharp up move. This suggests that stock is likely to give a breakout very soon and extend the gains towards INR 1250 in the coming days and week.

TradingSutra Updated 

Stock has given a breakout after a Flat correction and is rising in an impulsive manner. Stock is likely to extend the gains towards the upper end of the channel in the coming days and weeks ahead.

TradingSutra

Prices have given a breakout of the channel. This suggests that prices are likely to recover towards INR 3290-3300 in the coming weeks. Any weakness is likely to hold above the support of 2800.

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Theory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...

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Stock is rising in an impulsive manner after giving a breakout of the corrective channel. Stock is likely to extend its gains towards 1080-1100 zone with any weakness holding above the support zone of 940.

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LT: CUP and Handle Formation: Prices are likely to resume it's uptrend towards 4100-4150 zone in the coming weeks, with any weakness holding above 3500 zone. The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in...

TradingSutra

Prices have given an impulsive fall which suggests that prices are likely to correct as a Zig-zag corrective pattern. Expecting a bounce towards 865-870 zone and then another sell off towards 765-760 zone in the coming weeks.

TradingSutra Updated 

Stock is rising in an impulsive manner forming higher highs and higher lows. Any dip should be taken as buying opportunity for the upside target zone of 3800-4000 in the coming months.

TradingSutra Updated 

Sock has bounced back from the support zone and currently hovering near it's previous swing high on daily charts. As per the current formation stock is likely to move up towards it's resistance zone with any weakness holding above 200-195 zone.

TradingSutra Updated 

Stock has already concluded a running triangle structure at OCt'23 low of 2220 and is rising in an impulsive manner. The measured target for the same is coming in the region of 3400. Hence, stock is likely to continue it's uptrend towards 3400 with any weakness holding above the support zone of 2500-2450 in the coming months.

TradingSutra Updated 

The current structure suggests that prices have formed an Ending Diagonal structure. Price are likely to fall towards 1000 and 975 zone with any rise holding below 1125.

TradingSutra Updated 

Stock has given a breakout of a Cup & Handle pattern. with neckline identified at the level of 194. The measured target for the patter is 208-210 zone.

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Index has formed a terminal structure which is known as Ending diagonal. This suggests that index is likely to fall towards 16400-16000 zone in the coming weeks and months ahead.