AGAINNNNNN.... with a big OPPORTUNITY in DISHMAN CARBOGEN AMCIS LTD🚀🚀
This stock has completed its correction and it's now ready to move towards north. let see how?
Technical view-a simple understanding for beginners
* The stock has given a breakout with good intensity of volume. * The price changed its structure from lower low to higher high * Stock price is challenging Upper Bollinger Band * RSI ( a strength indicator) is above 60 in Daily Time Frame which indicates strong momentum https://www.tradingview.com/x/y8y3zqe2/
Understanding Waves
Key Elliott Wave Principles: 1. Five-Wave Impulse Pattern: The primary trend unfolds in five waves (1-2-3-4-5). Waves 1, 3, and 5 move in the direction of the trend, while waves 2 and 4 are corrective. 2. Three-Wave Corrective Pattern: After a five-wave sequence, a correction typically follows, consisting of three waves (A-B-C) that move against the primary trend. 3. Wave Relationships: Fibonacci ratios play a crucial role in Elliott Wave analysis, often governing the length of the waves. 4. Wave Characteristics: Each wave has its own set of characteristics. For example, Wave 3 is usually the most powerful, showing the strongest price movement, while Wave 5 may signal the final push before a significant correction.
Current Elliott Wave Analysis on DCAL - The stock is currently in bigger IMPULSE Wave in which it has completed wave 1 and wave 2 (correction) now it is in the bigger and the strongest wave 3 Targets - generally the targets of wave 3 goes up to 1.618 levels with TREND FIB from wave 1 to wave 2 * In this stock, the targets as per wave theory is around 425.70 * Intermediate targets as per technical view are 247-290-375-425.70 Invalidation / stoploss - invalidation of the up-move is 80 https://www.tradingview.com/x/ntPlWG36/ Trade Plan- * one can add at current levels and again if it comes down you will get an opportunity to add more till 150-140 * Invest keeping in mind for short to long term view, not for speculation.
THANK YOU KARANN DINGRA
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it rose from 212 to 296 which is almost 40% in just a few days
one can start booking their gains as per their convenience