EDELWEISS EQUITY levels ...23/06/2021 (W candle)
edelweiss forming channel pattern
Edelweiss is on important trendline support,reversal can be expected. (Personal due diligence advised)
EDELWEISS looks good for buying around 62-65 Rs, as it is a formation of triangle pattern and parallel channel pattern so keep on radar targets could be T1-93,T2-117,T3-146 minimum hldng period 1yr for long For short term hldrs for first target hold for 2mnts IM NOT A SEBI REGISTERED ANALYST DO YOUR OWN RESEARCH BY LEARNING FROM THE CHART AND TAKE ACTION
LONGTERM HOLDING WITH BIG STOPLOSS AND ALSO BIG TARGETS
EDELWEISS HAS BREAK THE MAJOR DOWNTREND WITH INCREASING VOLUMES WAIT FOR CONFIRMATION OF ANCHORED VWAP TO BREAK THE MAJOR RESISTANCE AND LET PRICE SUSTAIN ABOVE IT KEEP TRACKING
Edelweiss Today Closed above the Trend Line from Recent Top with Good Volume in Last two days....along with crossed the 50 DMA... Next Target should be around 84 in near term... Note: For educational purpose not a Recommendation....
Also given reversal on a weekly chart.
This analysis is done purely on basis of price action and chart patterns Analysis is done on Daily TF as well as on Weekly TF hence it may take few days to several weeks for price to reach the given target. Stock gave good breakout with volume from H&S Pattern. It came down to retest the level and now has formed very good reversal pattern (MORNIGN STAR PATTERN)....
BUY EDELWEISS @ 50-55 TGT @ 87-120+ STOP @ 40 Note: This is preempting Harmonics chart... So always be cautious that probability of tgts shall varry since we haven't plotted the levels on completed candles we are pressuming the targets. So have a close and reasonable RISK REWARD ratio. Go n add it in cash portfolio.
Edelwesis CMP - 55 Looking bullish in higher time frame. One can go for Swing / Short Term Trade setup with the following entry, exit & targets Buy at or above 55 - 56 / Stop Loss 52 Target1 - 60 Target2 - 62 Target3 - 65 / 70 Disclaimer: This is my view and for educational purpose only. Trade according to your risk and am not responsible for your loss.
After bottoming out at around Rs30.10 during the Corona crash, since then price action is trapped in a 'broadening rising wedge' pattern which is looking juicy for the next 100% gain (from wave 2 to 3). Volume profile lends confidence that the next sell off zone Rs105-Rs120. Will update the chart in every 15 days.
stock is in uptrend next target 100 if it breaks resistance of 83