Antony Waste HDG CELL LTD- Positional Call
The stock was listed with a gain of about 21%, though prices didn't sustain and the stock went below its IPO Price i. e 313-315 and made a low around 250 levels.
The Stock bounced sharply from 250, hence it created Spike Candle support around 250 levels, though the bounce was brief and could last for few trading sessions only and created a resistance around 336 levels.
From this analysis, we get support and resistance
Support: 250Resistance: 336
The stock started falling again after making a lower high around 336 levels and moved towards previously created support around 250 levels, This Time prices took time and tested previous support multiple times ( 4 trading sessions ) and bounced decisively( Shaven Bottom Candles) from there.
Hence 250 support was confirmed again, suggesting buyers are interested here and also ready to pay even when prices started moving higher.
Prices Moved uninterruptedly to 336 levels and then moved sideways for few trading sessions.
Prices did break this resistance and then this resistance started acting as support and prices are comfortably trading or you can say consolidating above these levels.
Now we have a new support zone. i.e 315-336, if prices sustain these levels, it could move fast towards 460 to 490 levels in the coming weeks.
CMP 368
Gain Probability of approx 25% ( positional trade}
Risk - 15 %
Investment Opportunity - 100 % Return one year from now ( My Aggressive Target - I reserve a right to be wrong )
Strategy buy on dips
Disclaimer : Only For Educational Purpose, nit recco to buy, please do your own research before trading or investing in the stocks
The Stock bounced sharply from 250, hence it created Spike Candle support around 250 levels, though the bounce was brief and could last for few trading sessions only and created a resistance around 336 levels.
From this analysis, we get support and resistance
Support: 250Resistance: 336
The stock started falling again after making a lower high around 336 levels and moved towards previously created support around 250 levels, This Time prices took time and tested previous support multiple times ( 4 trading sessions ) and bounced decisively( Shaven Bottom Candles) from there.
Hence 250 support was confirmed again, suggesting buyers are interested here and also ready to pay even when prices started moving higher.
Prices Moved uninterruptedly to 336 levels and then moved sideways for few trading sessions.
Prices did break this resistance and then this resistance started acting as support and prices are comfortably trading or you can say consolidating above these levels.
Now we have a new support zone. i.e 315-336, if prices sustain these levels, it could move fast towards 460 to 490 levels in the coming weeks.
CMP 368
Gain Probability of approx 25% ( positional trade}
Risk - 15 %
Investment Opportunity - 100 % Return one year from now ( My Aggressive Target - I reserve a right to be wrong )
Strategy buy on dips
Disclaimer : Only For Educational Purpose, nit recco to buy, please do your own research before trading or investing in the stocks
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