Inverse Head & Shoulders in VAIBHAVGBL - Vaibhav global
Hi All,
Greetings of the day!
Technical view:
Last couple of days market is showing some profit booking but this script is showing strength which adds confidence that its with strong hands.
The script has been forming base since April 2022 and today has formed inverse head and shoulders on weekly charts as shared.
The script is forming higher high higher lows ( following DOW theory ) and the upmoves are supported with higher than average volumes showing strength.
Based on the height of the triangle levels of 850 can be seen first and eventually all time highs near 1000.
I will timely share my views according to the moves.
Stop loss can be below 400 on weekly closing basis. The risk reward is approximately 1:5 which makes it attractive at current levels.
We see breakout today to form higher high higher low with big volumes.
The volumes are supporting the up-move which is a good indication.
Some sectoral and fundamental view:
The Consumption sector( especially consumer discretionary ) in India has high probability to grow fast as the per capita income is estimated to grow from 2000$ to 10,000$ in coming years. The diamond, gems & jewellery industry is estimated to grow well due to this.
India is global player in this sector and the government of India is also focussing on this sector . Just look at this example : en.wikipedia.org/wik...Surat_Diamond_Bourse
Names like Titan are doing well which is sector leader .
Vaibhav global is a global player with big presence in US and EU.
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ***
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading ;)
Greetings of the day!
Technical view:
Last couple of days market is showing some profit booking but this script is showing strength which adds confidence that its with strong hands.
The script has been forming base since April 2022 and today has formed inverse head and shoulders on weekly charts as shared.
The script is forming higher high higher lows ( following DOW theory ) and the upmoves are supported with higher than average volumes showing strength.
Based on the height of the triangle levels of 850 can be seen first and eventually all time highs near 1000.
I will timely share my views according to the moves.
Stop loss can be below 400 on weekly closing basis. The risk reward is approximately 1:5 which makes it attractive at current levels.
We see breakout today to form higher high higher low with big volumes.
The volumes are supporting the up-move which is a good indication.
Some sectoral and fundamental view:
The Consumption sector( especially consumer discretionary ) in India has high probability to grow fast as the per capita income is estimated to grow from 2000$ to 10,000$ in coming years. The diamond, gems & jewellery industry is estimated to grow well due to this.
India is global player in this sector and the government of India is also focussing on this sector . Just look at this example : en.wikipedia.org/wik...Surat_Diamond_Bourse
Names like Titan are doing well which is sector leader .
Vaibhav global is a global player with big presence in US and EU.
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ***
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading ;)