The scrip has completed a time correction - Flat structure in EW terms. Why we say that - because the momentum indicator has given buy signal again after completing the cycle. Our expectation is a next move up. Recent low of 442 becomes critical point in this expected move. Lets see how this develops Earlier post linked here
Creating Inverted Head & Shoulder & Bullish Pennant Pattern. Target 570
The scrip has given its first 5 wave up-move since listing fuelling hope of a trend reversal. Whether long term trend has reversed or not is yet to be seen. However, for us the play on long side exists till it holds 356....although a dip to 410-428 is not ruled out in short term Lets see how this develops...
Question on Policy Bazar Stock has moved up from all time lows with huge Volume.( Interesting) As of now at resistance. next resistance at 480 if bought hold. If not wait for dips to buy(Only if you have nothing else to buy) Best zone would be 410-390
NSE:POLICYBZR Policy Bazaar is now trade at best buying level. We can expect a pull back from current levels. As per my analysis, best entry level is 385-380, Can hold till target of 425 & 456. Stop loss will be only 365. Note: This is my personal analysis, only for learning. Thanks.
Buy above said trendline follow the stoploss and let your profit run
Buy With proper stoploss there is trednline breakout
The market has its sentiment and it changes its direction after a long rally on one direction.