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Greenply- shall be in Green sooner.This chart is an Elliott Wave analysis of Greenply Industries Ltd. (NSE) on the weekly timeframe, indicating potential price movements. Key Observations: Elliott Wave Count: The chart follows a five-wave impulse structure (marked in orange). Wave 3 has peaked, and Wave 4 is in progress, expected to correct before Wave 5's continuation upward. Support & Resistance Levels: Support Zones: Fib 0.5 retracement level at ~239.77 INR (green zone). Previous strong support at ~133.86 INR. Resistance Levels: 411.95 INR (previous high). Potential Wave 5 target at ~551.90 INR. Fibonacci Extensions: 1.618 extension at ~428.90 INR. 4.764 extension at ~394.30 INR. These levels suggest strong confluence zones for future price reactions. Current Price Action: The stock is currently at 283.00 INR (+3.87%). Wave 4 correction appears to be forming, possibly bottoming in the green support zone before Wave 5 rallies higher. Conclusion: Short-term: Potential downside as Wave 4 corrects into the 245-271 INR support zone. Mid-to-Long-term: A Wave 5 rally towards 550 INR is anticipated after the correction. Key levels to watch: Support around 239 INR, breakout above 411 INR for confirmation of Wave 5.
NSE:GREENPLY
by Pushpmegh
ALLCARGO- Lets Fill In it our CARGO!!The provided image is a technical analysis chart of Allcargo Logistics Ltd. based on weekly timeframes. Below is a summary of the key observations: 1. Price Action & Trend The stock is currently trading at ₹32.97, down by -3.74%. There has been a notable decline from previous highs, indicating a downtrend. The price has fallen below the key support levels around ₹44.36 and is testing lower levels. 2. Elliott Wave Analysis The chart appears to follow the Elliott Wave Theory, with a five-wave impulse (1-5) followed by an ABC corrective wave. The ABC correction seems to be completing, with Wave C nearing its bottom. 3. Fibonacci Levels A key Fibonacci retracement level (0.786 at ₹28.59) is marked, acting as a significant support. The 1.618 Fibonacci extension (₹173.76) suggests a potential long-term bullish target if reversal happens. 4. Support & Resistance Levels Support: Around ₹28.59 (Fib level) and possibly ₹9.48 (historical low). Resistance: At ₹44.36 and a higher target at ₹98.00. Major resistance exists at ₹164.11, which aligns with previous peaks. 5. Potential Outlook If the stock holds above ₹28.59, it may consolidate or attempt a reversal. A break below this level could lead to further downside. Long-term investors might look for signs of reversal before entering.
NSE:ALLCARGO
by Pushpmegh
Prakash- looking bright!!The chart represents a technical analysis of Prakash Industries Ltd. on a weekly time frame from the NSE (National Stock Exchange of India). Here are the key takeaways from the analysis: Elliott Wave Analysis The chart follows Elliott Wave Theory, with waves 1 to 5 labeled. The stock appears to be in Wave 4 consolidation, preparing for a potential Wave 5 rally. Cup and Handle Formation A large cup and handle pattern is visible, suggesting a bullish breakout potential. Fibonacci Retracement Levels The 0.5 Fibonacci retracement level (142.29) is a key support area. The stock is consolidating around this zone, potentially forming a base. Resistance & Support Levels Resistance: Around 183.84 (red line) and 239.90 (previous high). Support: Around 140.00, which aligns with Elliott Wave Wave 4 bottom. Target Projection If the stock follows Elliott Wave principles, the next target is around 329.15 (marked in green). This suggests a potential bullish move, provided it breaks key resistance levels. Summary: Current Status: Consolidating within a range. Trend: Bullish outlook if it holds support and breaks resistance. Key Watch Levels: 140 as support, 183.84 as resistance, 329.15 as a target. Risk: If the price breaks below 140, the bullish setup might weaken.
NSE:PRAKASH
by Pushpmegh
JSL- On My shopping list!!Analysis of the Chart (Jindal Stainless Ltd - NSE, Weekly Timeframe) 1. Elliott Wave Structure Wave (1) and (2) are complete. Wave (3) reached its peak and Wave (4) is forming, finding support near 549.90 INR (highlighted blue line). Wave (5) projection: The chart suggests a possible bullish move from Wave (4) to Wave (5), targeting new highs. 2. Fibonacci Retracement Levels 0.382 (553.40 INR) and 0.5 (465.85 INR) are key Fibonacci levels. Current support: The stock is bouncing from the 0.382 Fibonacci retracement level, indicating a potential reversal zone. If this level fails, the next major support is near 465 INR (0.5 level). 3. Price Action & Trendline Support The stock has been following an ascending channel, touching both the upper and lower trendlines. Currently, the price is near the lower boundary of the channel, which historically has acted as a strong support. A breakout above the mid-line of the channel could trigger Wave (5) rally. 4. RSI (Relative Strength Index) The RSI is 39.48, indicating mildly oversold conditions. The RSI-based moving average is 44.59, showing weakness but also potential for reversal. If RSI crosses above 50, it could signal bullish momentum. 5. Key Levels to Watch Immediate Support: 549.90 INR (current bounce level) Major Support: 465.85 INR (0.5 Fibonacci level) Resistance Levels: 605-610 INR (recent highs) 848 INR (previous peak & target for Wave 5) Conclusion ✅ Bullish Scenario: If the price holds 549 INR support and RSI improves, a potential Wave 5 rally could push the stock towards 700-850 INR in the coming months. ❌ Bearish Scenario: A breakdown below 465 INR could signal further downside towards 350-400 INR.
NSE:JSL
by Pushpmegh
NCC- A good Bargain here?!1. Trendline & Support Levels: A long-term upward trendline (dashed pink line) is drawn connecting significant lows. The price recently tested the trendline support and rebounded slightly, indicating a possible buying interest at this level. Historical bounces from this trendline (circled in purple) suggest it has been a strong support in the past. 2. RSI (Relative Strength Index) Analysis: The RSI is currently at 27.05, which is in the oversold zone (<30). Historically, when RSI reached similar levels, the stock rebounded. The RSI-based moving average is 40.92, significantly above the RSI, suggesting potential weakness. 3. Price Action & Reversal Signs: A sharp decline was observed, followed by a slight recovery, hinting at demand near the support zone. The candlestick pattern near the trendline could indicate potential reversal or temporary consolidation. 4. Key Levels to Watch: Resistance: Around 280-300 INR, where the stock previously faced selling pressure. Support: Near 118-120 INR, which is a long-term horizontal support (dotted black line). Conclusion: The stock is at a crucial support zone and could bounce if buyers step in. The oversold RSI suggests that selling pressure may be exhausted. If it breaks below the trendline, it may test the 118 INR level. If it holds and moves up, the next target could be 200-220 INR in the short term.
NSE:NCC
by Pushpmegh