Here is the monthly chart of MBL Infrastructure (NSE:MBLINFRA). It caught my eye due to a large move this month with great volumes. What’s more interesting is that the structure of the stock looks “textbook” example of Elliott Waves. Long term counts are marked in green with a circle around counts. Intermediate counts are in…
I was reviewing long term EW counts of NIFTY and here is what I think. Overall, I can see potential 2 alternatives and have highlighted them in blue and red respectively. This is a monthly chart. Blue AlternativeLet’s start with blue counts first. Larger degree wave 1 (marked by square blue box) which started from…
In the above weekly chart of Snowman Logistics (SNOWMAN), we can see H&S (Head and Shoulders) pattern formation over a period of nearly 7 years and now it has broken out from the pattern. Re-test of the neckline also seem to have been done in last few weeks and neckline provided good support. If we…
MANAKSTEEL (Manaksia Steels) has broken out in WTF with good volumes. In last 2 weeks, stock has already moved nearly 60% up but still there is room to go further up. If I take the breakout from the previous swing close (instead of high) as a more conservative target then it comes around to 99….
Last week Goldman Sachs published a report titles “The Rise of Affluent India” which estimates that the affluent population in India is set to reach 100 million by 2027. The report also highlighted 8 stocks which might benefit from this. They have their fundamental reasons for believing why these stocks might do very well in…
GATEWAY seem to be breaking out with good volumes. The last major swing high was made by the stock in the first quarter of 2015 so this is a fairly long term breakout. If it sustains, it could be a very rewarding trade. Having said that, this is weekly chart and the candle is still…
SAKUMA has given a breakout in weekly chart with good volumes and currently trading around 52 week ATH. Weekly close is above the swing highs in September’23 and December’22. Wick at the top of the candle isn’t very reassuring however its not too bad as well. Further, given that the volume is very good at…
GLAXO has given a nice and clean breakout in weekly chart. This is significant since this pattern has been evolving since around 2015 and this resistance has been in force since last almost 8 years now. Remember that the longer the pattern, larger the move typically. In terms of size, the up move could be…
INDIAVIX has broken out from long term trendline and the impact was seen on NIFTY today which took nearly 300 point hit. If VIX continues to stay above the trendline then chances are we have made a medium term top in NIFTY and next few weeks might result in more red days. Be cautious if you’re carrying longs…
NSE:BANDHANBANK (Bandhan Bank) has given a strong breakout from a triangle formation with good volumes in today’s session. It looks like a descending triangle but the breakout has occurred on the upside. Volumes look good as well. Height of the formation gives a 25% move and the stock closed 4.4% up today from the upper…