ALOK INDUSTRIES LTD.| TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK :- ALOK INDUSTRIES LTD.

CMP :- 19.15 (14/10/2023)

ABOUT :- Alok Industries Ltd. is a textile and apparel manufacturing company based in India. It was founded in 1986 and has its headquarters in Mumbai, Maharashtra. Alok Industries is one of the largest vertically integrated textile manufacturers in India.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW 

(CLICK ON ABOVE IMAGE  FOR CLEAR CANDLE STICK CHART VIEW

OBSERVATION :

The above stock shows a good cup & handle chart pattern on a weekly time frame & also can see a breakout from this pattern emerged in last week of AUGUST 2023 and gets re-test with good volume. The stock RSI is approximately around 61 considering a good strength in stock coming days. As its a weekly time frame we can expect the stock to show 20-25% coming weeks and months. Above 21.85 looks good buying opportunity. 

BUYING PRICE :22.00 

TG :- 29 / 43 / 51 

STOP LOSS :- 14.40

Add this stock to your watchlist to understand further price action.

How does CUP AND HANDLE PATTERN WORKS ? CLICK HERE 

Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

OPEN A FREE DEMAT ACCOUNT

TRIBHOVANDAS BHIMJI ZAVERI LTD. | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK :- TRIBHOVANDAS BHIMJI ZAVERI LTD. (TBZ)

CMP :- 116.95 (08/10/2023)

ABOUT :- Tribhovandas Bhimji Zaveri Ltd. (TBZ) is a prominent and well-established jewelry retail chain in India. The company was founded in 1864 and has a rich history in the jewelry business. TBZ is known for its exquisite jewelry designs and high-quality craftsmanship.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW 

(CLICK ON ABOVE IMAGE FOR CLEAR CANDLE STICK CHART VIEW )

OBSERVATION :

The above chart stock shows a cup & handle pattern on a weekly time frame. A breakout candle emerged in the 2nd week of AUGUST 2023, followed by a retest & rebound driving the stock upward moment. check volume before entering into a trade & stay buying above 113 levels for the target of (25-30%). Above 120 levels looks good buying opportunity.

TARGET :- 136 /158/ 181.

STOP LOSS:- 95.50.

Add this stock to your watchlist to understand further price action.

How does CUP AND HANDLE PATTERN WORKS ? CLICK HERE 

Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

OPEN A FREE DEMAT ACCOUNT

Invest Right, Invest Now

Follow me on Instagram : @priceactiontrader13 for daily updates related to blog.

INFIBEAM AVENUES LTD. | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK :- INFIBEAM AVENUES LTD.

CMP :- 16.10 (09/09/2023)

ABOUT :- Infibeam Avenues is an Indian e-commerce and technology company that offers a range of digital payment solutions and e-commerce services. 

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW 

(CLICK ON ABOVE IMAGE FOR CLEAR CANDLE STICK CHART VIEW )

OBSERVATION :

The stock has created a falling wedge pattern on a weekly time frame & ready for breakout, Once the stock gets breakout of its pattern on weekly time frame & closes above (17.70) levels further we can expect the stock to show good upside momentum coming weeks & months. 

Wait for the stock to gets breakout & closes above its mentioned levels.

Entry price range (17.70 to 18.70)

TARGET :- 22/29/34/39/44

SL :- 10.90

Add this stock to your watchlist to understand further price action.

How does FALLING WEDGE PATTERN WORKS ? CLICK HERE 

Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

OPEN A FREE DEMAT ACCOUNT

Invest Right, Invest Now

Follow me on Instagram : @priceactiontrader13 for daily updates related to blog.