DIWALI PORTFOLIO : PART 3

 Hello All !! 

3rd Pick For DIWALI to DIWALI Portfolio.. 

Stock Discussed in this Post is : AU SMALL FINANCE BANK LTD. 

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Let's See the Chart Without Wasting Time as We may have to Create Multiple Posts for Different Charts. 

This is a Weekly chart and We do have Limited Date on the Chart, but it's Possible to Analyse the Data and Take Trading Decisions. As Per the Chart, We can see The Stock has faced Strong Resistance at 744 area and it was difficult for the stock to break it on Higher side. Every time the Stock tried to move above 744, it was pressured and started correcting. The Only time when it successfully broke the level in Oct 2019, the Stock Rocketed to 1200+ Levels. 

But Unfortunately in March 2020 The Stock Corrected to Below 400 Levels due to #chinesevirus breakout. It started Moving again on upside and Crossed the Strong Support turned Resistance zone at 620 levels. After the Breakout, Stock Formed a Bullish Cup and Handle Pattern and Now it has broken out of the Neckline of the Cup & handle Formation. Last Week Successfully Closed above the Neckline with a Strong Bullish Candle.

Today Stock Closed around 890 Levels. 

The Neckline of Cup and Handle was placed around 790 levels. Breakout is Successful. Entry Can be Taken in the Stock on Retracement to 790 levels. The Pullback and Retest of breakout zone is Needed for the confirmation. in the Meanwhile the Stock has Crossed a Small Resistance zone at 844 levels. 

We May initiate longs Near 790 on Confirmation and Reversal formation, once the Confirmation is done, We may Expect targets of 890 - 990 and 1200++ Levels. Supports in this case will be seen around 720 levels. 

In Worst case Scenario, if Market Corrects and Stock Corrects with Market, We May Get Entry Near 620 area and Stoploss for the Same will be Near 555 Levels. 

In Short, the Stock is Buy On Dips and Hold For Longer Term for Big Amazing Returns. Looking at the Chart I am seeing a Possibility of Big Interest by Big Players in this Stock. 

The Area 555 to 744 is a Strong Consolidation zone and May work as a Support in case of Correction in markets. 

Recommendation in this Stock : 

Case 1 : 

AU SMALL FINANCE BANK LTD. 

Buy @ 840-790 

Stoploss : 720

Targets : 890 - 990 - 1200  

Case 2 : 

Buy @ 620 - 560 Region

Stoplss : 500 or Below 

Targets : 744  - 844 - 890 - 990 - 1200 

In Short Buy the Dips at Proper Levels after a Confirmation of Bullish Reversal from Lows. and Hold for Similar Levels with Different Time frames depending on your Entry levels. We might Lose some, But We will Gain more !! 

Do Not Overtrade, Do Follow Risk Management, Consult Your Financial Adviser before Entering the Trades. Our Clients May or May not be Holding the Trades.

Disclaimer : 

The Analyst, Atul Shinde is a Global Market Expert and Certified Financial Adviser Having Experience of Tracking Global and Domestic Markets since Last 13+ Years as Investment Consultant, Fund Manager. 

The Adviser may be Contacted on following Details : 

WhatsApp : (+91) 8275 298 208 

Email : paidsignals@gmail.com

Web : http://planmymoney.in 

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