JUSTDIAL trade ideas
JUST TO GO UPI'll be getting into a long trade 1st thing on Tuesday.
SL would be 449 and Target would probably be 507 - 518 - ( I'll exit if I'm in doubt )
Tuesday (16-Aug ) being the Results Day, I'm expecting some screwup to happen.
Take the case of SBIN, The results were pretty bad and yet Stock Prices Shot up. However, the Chart did Show Signs of a Bounce the previous Day. I'm hoping the Pattern and the Numbers will do the same for JustDial on Tuesday.
SL=449 *****************************************
Just Dial - Breaking out Down Trendline on Daily Chart (BUY)The price action has reached to the bottom and now we have noticed a breakout from a prevailing downward trendline which indicates a positive sentiment emerging in the price action. I have also noticed a MACD crossover and also RSI getting out from oversold areas. This also indicates positive sentiments. On weekly and Monthly chart I noticed a double bottom and doji formation, that signals a trend change.
It is trading at good risk reward and it is wise to take positions on current levels.
Target 1 : 600
Target 2 : 630
Stoploss : 540
Just Dial - Long Setup (Elliott Waves)It looks like a completion of a Elliott wave cycle as we can observe 5 impulse moves to the upward and 3 correction moves to the downside, retracing the entire impulse move by 50%.
As per the analysis, it is a good time to take a long position for the next month future expiry.
Trade Long, Trade Safe.
JUST DIAL - LONG TERM BUY CALLThe company has no debt and rising income that suggest long term healthy prospect in the coming years.
As per technical, the Elliot wave completion of wave 5 and now I expect three reversal waves to levels 1090.
It is an ideal time to accumulate this one.
Stay long, stay invested.