The stock had its last impulse move in may 2023 which was a quick 40% move in a month's span.
From July end till mid Nov. the stock underwent a zig zag(Elliot wave) correction and corrected 50% of the impulse.
Now this week the stock is setting out very strongly in the 'wave iii' mode. The recent volume on this stock is unmatchable to any of its recent months...
NSE:LYKALABS has given a strong reversal indication. As per my analysis, level of 101 could be best buy opportunity with stop loss of 88 (-13 Points). My expected upside target would be 113 (+12) & 122 (+21).
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
on monthly chart lyka at 2 decade support zone 88-125 levels to watch.
EPS 19, bookvalue -9
Promoters have increased holdings from 20.04% to 47.79% in Mar 2022 qtr.
for education purposes only.
This indicator predicts future resistances/ swing highs(represented by green band) and future supports/ swing lows(represented by red band), and we are just trend trading with the help of it.
This indicator predicts future resistances/ swing highs(represented by green band) and future supports/ swing lows(represented by red band), and we are just trend trading with the help of it.
