Wave (3) Awakening: Shri Jagdamba Polymers Ltd. AnalysisOverview:
Shri Jagdamba Polymers Ltd. has completed Wave (1) and Wave (2) in blue of Intermediate degree on the weekly chart. The stock now appears to be starting Wave (3) in blue, which should unfold into five subdivisions as Wave 1-2-3-4-5 in red of Minor degree . Currently, Wave 1 in red has finished its subdivisions as Wave ((i)) and Wave ((ii)) in black of Minute degree . Now, Wave ((iii)) in black of Wave 1 in red seems to be starting, indicating a bullish outlook.
Wave (3) Characteristics:
- Strong Impulse: Wave (3) is typically the most powerful and extended wave, characterized by strong upward momentum.
- Fibonacci Extension Target: If Wave (3) in blue reaches 161.8% of Wave (1)-(2) , the price target can be approximately 3300 .
- Subdivisions: Wave (3) subdivides into five smaller waves (1-2-3-4-5 in red of Minor degree), with each smaller wave further subdividing (e.g., Wave 1 in red subdivides into ((i)), ((ii)), ((iii)), ((iv)), ((v)) in black of Minute degree).
Current Technical Setup:
- Current Price: Observing the price action.
- Key Levels:
- Invalidation Level: 450 (marked as the low of Wave (2) )
- Fibonacci Extension Target: 3300
Technical Indicators:
- Wave ((iii)) Starting: The initiation of Wave ((iii)) in black of Wave 1 in red signals potential strong bullish momentum.
- Bullish Outlook: The completion of preliminary waves ((i)) and ((ii)) in black suggests that a significant upward move is likely ahead.
Risk-Reward Analysis:
- Risk: Low risk with the stop-loss set at 450 .
- Reward: High potential reward with a target of 3300 .
- Risk-Reward Ratio: Favorable due to the substantial upside potential and defined risk level.
- View: Long term Investment pick.
Trading Strategy:
- Consider entering a position as Wave ((iii)) in black of Wave 1 in red unfolds, with a stop-loss at 450 .
- Monitor for further confirmation of upward movement and add to positions as Wave ((iii)) progresses.
Conclusion:
Shri Jagdamba Polymers Ltd. is poised to start Wave (3) in blue of Intermediate degree , characterized by strong bullish momentum. The current setup indicates the start of Wave ((iii)) in black of Wave 1 in red, offering a compelling risk-reward opportunity. Monitoring the progress of these waves and the overall price action will be crucial for optimizing entry and exit points.
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Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Bullishbreakout
If bonk validates the channel breakout here target = .00003736The previous daily candle closed with he top trendline of the channel as support and now the current candle is seeing a bullish impulse suggesting the tp trendline has been flipped to solidified support and that it could already potentially be validating the breakout. I’ve seen bigger fakeouts than this before so I’m not ready to say the breakout is confirmed jsut yet but so far probability is favoring it. *not financial advice*
Flare has 1 daily candle close above the invh&s neckline. Fairly big candle that closed above the neckline too and the bigger the candle the higher the probability that it can flip that neckline to support. However we all know how often price action will fallback below an invh&s neckline before the real breakout occurs, so for now there is no confirmation or validation that flare has broken up from this pattern just yet. We should know within the next 2-3 daily candles if its gonna breakout now or if its gonna go back under the neckline though if I had to guesstimate. Should it validate the breakout here, the breakout target is around .37 cents. *not financial advice*
Legendary Golden Cross on XRP happening right at triangle apexThis chart screams bullishness. We are just a few weeks max from the apex of this symmetrical triangle on the xrpusd weekly chart and we are also about to have a weekly golden cross(where the orange line goes above the blue line) Doesn’t take a TA expert to see on this chart what tends to happen when this weekly Goldencross occurs on xrp. Obviously this isn’t financial advice but if I had to take a mildly educated guess of what the outcome with the highest probability of happening here is I’d simply say:UP!!!
Ether breaking up from bullflag.Very likely validating the breakout up from this flag with this big candle move/close today.. If so the target is all the way up at $5034. Reaching this price target can take price well above the purple line which is a neckline to a big inverse head and shoulders pattern. Once we were to trigger the breakout of the big inverse head and shoulders target we will likely be looking at a measured move target for it around 7300-7400! For now the current target to focus on is 5034, as it could still correct enough to dip back below the purple neckline after reaching the bull flags breakout target. Also chances at consolidations or pullbacks along the way to the bull flag target as well so tread wisely. *not financial advice*
The Full Monthly Chart Bullflag on BitcoinUsd PairJust as an addendum to my chart I just posted on the measured move target for just the channel portion of this bullflag, I wanted to include an updated visual for the full flag and its breakout target which is pretty much just ever so slightly below 100k. Will link the previous relevant chart ideas below. *not financial advice*
#COALINDIA
Company is almost debt free.
Stock is providing a good dividend yield of 5.11%.
Company has a good return on equity (ROE) track record: 3 Years ROE 51.8%
Company has been maintaining a healthy dividend payout of 51.8%
New Projects 9MFY24
1 Environmental Clearance : EC has been obtained for 14 Proposals (Incremental EC Capacity of 9.85 MTY).
2 Forest Clearance : 1 proposal of wild life clearance (121.58 Ha) has been secured.
3 CIL has approved 5 Coal Mining Projects with a total capacity of 60.04 MTY and incremental capacity of 33.24 MTY.
Solar Power Generation
Aim to set up 3GW capacity of solar power projects to become net-zero by FY 25-26. CIL intends to add another 2 GW of renewable energy, aiming for a total installed capacity
of 5 GW.CIL is also participating in PAN-India Solar tenders of GUVNL, SECI etc to achieve the target of 5 GW. CIL has entered in an MOU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd to develop Solar Power Project at Solar Park in Rajasthan.
Strategic Focus
The company aims to produce 1BT of coal by FY 2025-26.
ABTUSD Breaking upward from a bull pennantIt looks like it is validating the break upward, full emasured move target can lead to 180% gains from current price range. Of course always possible it corrects all the way back don to the top trendline of the pennant before reaching the full target. If so that’s simply an opportunity to enter at a zone with even bigger gains potential. It could just as easily keep pumping until it reaches the full target as well. If longer consolidation it could take 1 as many as 1-3 weeks to reach the full target also…and then of course a possibility with the least probability as it somehow does a 180 and doesnt reach the full target as all since anything’s possible…but as I said, that scenario is the one with the lowest probability at the moment. *not financial advice*
#MANGLMCEMPositive factors
Improving scale of operation leading to increase in total operating income (to greater than ₹2,000 crore) and profitability
(profit before interest, lease rentals, depreciation and tax (PBILDT) margin greater than 18%) on a sustained basis
Improving capital structure (overall gearing less than 0.5x) and debt protection metrics (PBILDT interest coverage greater
than 5.0x) on a sustained basis
Negative factors
Lower-than-envisaged profitability leading to decline in PBILDT interest coverage going below 2.00x on sustained basis
Large-scale debt-funded capital expenditure (capex) leading to deteriorating capital structure
GOLD BREAKOUT - TREND BREAK AND RETESTLooking for Gold to breakout of the downward trend with a break and retest of the $2298.5 level before continuing higher.
I am looking for entries on the 5min and 15min timeframes.
I believe this is a short term bullish move before the bigger overall bearish retracement on the higher timeframes.
#Just Dial #JUSTDIAL
Pan-India Presence
The company has ~12000 employees in telesales, marketing, feet-on-street activities deployed across 250+ cities covering 11,000+ pincodes in India. It derives 70% of its revenues from top 11 cities including Mumbai, Ahmedabad, Hyderabad, Kolkata, Bengaluru, Chennai, Delhi, etc. Its technology and R&D division is located in Bengaluru
Business Model
Paid advertisers pay a fixed fee to run search led advertising campaigns for their businesses
on Justdial’s platforms. Various premium & non-premium listing packages available which determine placements in search results. Add-on products such as banners, own website, JD Pay, JD Ratings, etc.
Axie Infinity breaking above inverse head and shoulders necklineAs with other gaming and metaverse cryptos, it appears Axie Infinity is waking up from its slumber as well. No guarantee yet that it wont take another temporary dip below the neckline before fully validating the breakout but it seems pretty likely that validation is near. It appears all the metaverse and gaming cryptos want to take the reigns of the market over from the meme coins and may even do so here soon. *not financial advice*
It appears that the metaverse & gaming cryptos are waking up. Just as we are finally seeing mana pump and gala, we are now likewise seeing sand follow suit too as it seems to have finally broken up from the extended descending bear flag it was in for the longest time that I have posted charts about in the past. There are two possible measured move targets for the yellow channel its breaking up from. The dotted pink line represents th target if the slightly lower top trendline is the more valid top trendline of the channel, and the dotted yellow line represents the breakout target for if the highest of the potential top trendlines of the channel is the more valid one. Often times they both end up being validated. The dotted dark bluish purple trendline is the measured move for when sand breaks above the top horizontal bluish purple neckline which is the neckline of the double bottom pattern its currently printing on the chart. *not financial advice*
Quant appears to b on the verge of validating an invh&s breakoutNo guarantee it ont go back below the neckline once or even twice or thrice before the real breakout as such things are common, however it definitely looks like this current breach above the enckline could be the one that ends up validating. The breakout target once it validates is $171. *not financial advice*
Galas next targets If the overall market is done w/ correction This bull flag target and then slightly above that is the double bottom breakout target. Price action seems to already climbing up the measured move line of the double bottom breakout so that’s a good sign that a breakout could get validated soon. Could definitely still correct back below the double bottom neckline once or twice first though if the bitcoin correction isn't over yet. *not financial advice*
Silver target hit precisely after inverse head & shoulders breakJust posting this update on the silver chart to exemplify how TA often does work with exact precision. As soon as the inverse head and shoulders on silver validated its breakout the price action climbed to the exact price target before its current correction. We can see how the wick on this particular chart even hit the top of the measured move line at exactly the time it hit its target. Always a cool thing when that occurs. *not financial advice*
Silver correcting after 1st target hit; bigger invh&s trgt = $34The top of the highest wick on silver is actually the exact measured move target of the previous inverse head and shoulders silver recently hit precisely. On the journey as it retested that ones neckline it formed this anger more horizontal inverse head and shoulder neckline and has since also broken above it with a measured move target much higher at around $34. I am currently watching for the dotted purple measured move line or the horizontal neckline to get retested here and hopefully one or the other wil maintain support…price could easily also dip back below the neckline a few times before the real breakout like it did with the previous inv h&s neckline. I will link the previous invh&s chart down below for you to compare. *not financial advice*
Hbar just hit the breakout target of the teal channelAfter the bullish news connecting hedara hashgraph with blackrock hbar saw a massive bullish impulse today reaching the full breakout target of this teal channel and then some. If it does an inverse Bart move here expect it to go considerably higher but for now the initial target has been hit so pullbacks, corrections, or consolidations are always possible before the enxt leg up. *not financial advice*
Bitcoin dominance teasing a break above the purple channel.The fomo of people wanting to start piling into bitcoin is intensifying and we can see that here in the bitcoin dominance chart as price action is starting to poke its head above this purple channel we’ve been consolidating in for some time. For it to truly break out. Of this channel it’s gonna need to flip the tan trendline just above it to solid up port though. A rejection from that tan trendline could send bitcoin back inside the purple channel. Should it flip the tan trendline to support, you can see the dotted purple line that will lead us to the full measured move target. We can also see a dotted green measured move line from a different chart pattern to the left of that also having a price target that is close to the same range, which bolsters the probability of the purple target being reached with some nice bullish confluence. No confirmation of the breakout just yet but If we can get a full candle closing above the channel in its entirety that will likely be a bi sign that its ready to trigger. First things first is just getting part of a 1day candle body to close above the top trendline of the purple channel. SHould this confirm its breakout then we are likely to see bitcoin pump on its own while most of the alts only go sideways or have very little increase in price until bitcoin dominance has reached its full target. *not financial advice*
Gold just it the first of the 3 big bull targets. We can see here how the XAUUSD chart just reached the dotted yellow measured move line target at $2395. Te next bull target just above that is the smaller dotted pink line at around $2550. After tat is the full target for the pink bull flag it has broken up from. Corrections on along the way to the enxt 2 targets are probably but not guaranteed *not financial advice*
Gold breaking upward from bullflag: Next target = $2347Gold continuing to make new highs, as it begins traveling to some of our bigger measured move targets. On the way to those bigger targets, it has formed this smaller timeframe bull flag which it is now appearing to break up from which has a breakout target of $2347.*not financial advice*
Digibyte has hit the first to 2 targets onto the next 2!Digibyte is finally awakening from hibernation. As ong as it maintains the teal neckline as support we will hit the dotted green measured move lines target and the dotted teal measured move line’s target in the very near future. *not financial dvice*