Watch Out for Stock levels near 430. if reverse from those level, will be good sign for stock price.
My Estimation is that its in the process of forming H&S pattern.
If broken above resistance range, can be good bet for 1 ka 2.
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Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation
Pokarna ltd.. After correction H&S under formation. Add some qty at CMP 403 with stoploss of 350(wcb) and add more once cross neckline 450-460 for the target: 600/750/850
POKARNA LTD (1D)
CMP 408.40
Inverted Head and Shoulder pattern completed
Stock is taken support at previous Resistance
Stock price is moving in a range
Once the Breakout is done stock can give good upside move in short term
Pokarna Ltd. is renowned for its for its quality, uniqueness, design and variation in Granite business. They have a strong presence in 23 countries and robust distribution network in which more than 80% of revenue comes from USA. The company is the largest manufacturer and exporter of quartz surface.
Pokarna CMP is 413. Negative aspect of the company is...
Pokarna ltd.
Downward Price Trend Broken with Strong Upside.
Monthly Basis making Higher High
Need 7% to BreakOut Monthly Price Trendline
Trail SL. Book Profit as per Risk Appetite.
Do Your Own Research As well.
Happy Investing :)
Clear uptrend, fundamentally strong position, increasing volumes, could soon be on its way to price discovery. Not a short term trade, invest with a deep stop loss.
The bottom target was calculated from the PnF analysis...
This is a revision to previous pokarna idea with wyckoff method
Previous idea on pokarna
Disclaimer... Not an investing /trading recommendation
Not invested, tracking fundamentals, interested to bottomfish
Pokarna is correcting in ABC sub waves of outer degree wave 2. Also forming AB=CD harmonic pattern. Potential reversal should be between 145 and 165. Then wave 3 will start. That will take the price past all-time high.
