Research Report: Is KPITTECH Worth Buying On Pullback?

Chart Pattern Analysis:
1) Bullish Cup & Handle Pattern:

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Timeframe: Weekly

The cup and handle pattern is a bullish continuation pattern. To validate this pattern, traders should look at the following checklist:

  • Prior trend: As it is a continuation pattern, the price should have a prior bullish trend.
  • Length & Depth: Normally, a “U” shape longer cup provides a more accurate bottom than a “V” shaped cup. Price has formed 41-week-old cup, which is not too deep. The cup should not retrace more than 61.8% of the depth of the last swing. The general depth of the cup is 50% of the previous move.
  • Handle: We should not trade deep handles. It suggests weak demand pressure. The handle should not retrace more than 1/3 or 50% of the cup. In this security, the price retraced 50% of the cup.
  • Volume: Volume decreases during the decline and surges after the breakout.
  • Breakout, target, and stop-loss: Breakout will confirm when the price will break out the neckline resistance with good volume only. The target of a trade can be determined by the cup’s depth. There are two stop-loss points:  (i) low of handle  (ii) middle point of the handle
  • Failure: Failure will result in a double top reversal pattern.

2) Consolidation Box/Value Area:

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Timeframe: Daily

NSE KPITTECH has found a consolidation box on the daily timeframe chart. Price took support from the control line as moving toward the upper band of the channel. The upper line indicates resistance, so a resistance breakout increases demand pressure. After retracement, if the price sustains above the upper band of the channel, traders can set their targets up to 940. It’s better to trade after a pullback because the price may face resistance near an all-time high.

Elliott Wave Analysis:

free nse kpittech weekly chart callsContinue reading

NSE 3MINDIA – Bull Victory

Did you trade 3MINDIA Wave setup?
Click here: NSE 3MINDIA – ELLIOTT WAVE ANALYSIS

Free nse 3mindia chart callsBEFORE

I have written clearly,“Wave C is the ending point of the correction, and traders can trade for the following targets: 22564 – 22850 – 23282.”

Free nse 3mindia chart callsAFTER

Timeline:

[05 January 2023]

  • 10:57 AM –  3MIndia hit the first intraday target of 22130.
  • 11:00 AM –  Price reached the second intraday target of 22291.

[06 January 2023]

  • 09:19 AM –  Price touched the final intraday target of 22480.
  • 10:44 AM – 3MIndia reached the first positional target of 22564.

[09 January 2023]

  • 03:15 PM – 3MIndia hit the second target of 22850.

[31 January 2023]

  • 03:05 AM – 3Mindia Touched the final target of 23282.

I will update further information soon.Continue reading

NSE BAJAJHLDNG – Elliott Waves Trend Forecast

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NSE BAJAJ HOLDING has been forming the correction for 19 weeks. Price has established an ending diagonal in wave C, which signals the downward move is not strong enough for a sharp fall.

According to Elliott waves, if the price sustains above the previous wave (4), traders can trade for the following targets: 6120 – 6229 – 6324+.

As you can see, the price has formed a double bottom on the daily timeframe chart, and 6000 is the neckline of the channel. The corrective structure has retraced 61.8% Fibonacci retracement of its previous move.

I will update further information for premium subscribers only.

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NSE AXISBANK – Tips & Update

Do you remember NSE AXISBANK Wave Analysis?
Visit hereTrade Setup – NSE ADANIPORTS, AXISBANK, BEL & More

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I have mentioned clearly, “Wave 4 is a crucial support level for the prices. If the price breaks down 4th wave at 905, traders can sell for the following targets: 880 – 857 – 832+. Safe traders can wait for a pullback to minimize their risks.”

Timeline:

[23 January 2023]

  • 09:40 AM – Price gave a pullback by making a lower high of 939.5.

[27 January 2023]

  • 9:15 AM – Price touched the first target of 880.

The first target has delivered more than 70 points or a 7.5% return in just seven trading sessions. Continue reading

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