anmol18888

anmol18888 Updated 

This is an update of my previous idea on RITES LTD. with 3rd wave and 4th complete according to Elliot Wave RITES LTD. looks ready to continue its upmove, one can hold RITES with the above trend line as trailing SL or can make new position with trend line as SL

anmol18888

hello, in this idea I would like to show you rites ltd. In my opinion, Rites will be moving along the drawn Elliot waves and will probably reach 800 in mid-term for about 1.5 years. And in long-term this stock can easily multiply upto 3 times.

anmol18888

With a bit long time frame in mind say about 2 years this stock can easily double from here, as in rounding bottom pattern breakout, there is a probability of 9/10, it working and reaching the targets. Therefore, your only problem is the ability to hold the stock for long term. also, the financials of the company are pretty good.

anmol18888

as you can see there is an M pttern Breakdown coming in DOW Jones(US30) with possible targets marked on the chart.

anmol18888

as you can see its a swing trade with a min. of 1:2, to possibly 1:4 risk to reward ratio.

anmol18888

as you can see there is a FLAG PATTERN forming in LORDS CHLORO ALKALI the possible upside according to the pattern is about 40% with 10% SL is a GOOD opportunity

anmol18888

as yo can see from the below chart that in websolar energy limited there is a flag pattern formation for which SL should be not more than 5%.