If you want to buy Tata Elxsi for long term a good price would be around 4500-4700 levels
Patience is required to avoid FOMO & wait !
More from EquiAlpha -MidTerm Momentum🐎🐎
Please note Screener will help you to reach momentum but you need to see chart & further segregate trends manually (1/n)
Do retweet & like so that it reaches maximum people
Screener 1) +ve ADX DMI Breakout to find out where the action is going on a particular day, you can then look onto stocks and find setups and patterns to trade.
Link - https://t.co/fIKlWSloNw
(1/4)
Screener 2) Going one level more deep into ADX where we find up stocks which are already in trend on weekly
1) Weekly ADX >25 indicating the trend is already there
2) +DMI breaking out
3) Stock within 15% of 52w high
4) Stock above 200 SMA
Link-
Screener 3) This is based out of within 20% of ATH Stocks. I have also added few fundamentals to it. You can change variables according to it
Link -
Screener 4) RSI which is a momentum indicator
RSI breaking out can give you names where momentum is picking up and then you can look onto charts for buy points
Link -
This knowledge can change your PnL by huge as you know when to enter big & when to be careful & start booking profit
If we see last 4 bull run all went on avg 14 month after the Breakout (1/2) https://t.co/bsILTbAAwx
A backtesting of trends on monthly says - Good trends last 10-12 months on average after that they retest 20 EMA on monthly and sets up larger base
— EquiAlpha -MidTerm Momentum\U0001f40e\U0001f40e (@equialpha) June 8, 2022
You can use this to measure trends.. 3 examples for reference
1) FSl
2) Deepak NItrite
3) Balaji amines
4) Indiamart
(1/2) pic.twitter.com/FxUZmjPGNL
Don't know how many will get this as this is advance thing to get..Knowing this sets you objective before hand. Example if you are already in 11 th month of bull run you know you have to trail the trend a bit tight & if month 3 you know loads of money are waiting
Amazing
More from Tataelxsilongterm
This is line chart based arc I plotted a few days ago to see where does the target of 2nd arc completes. We got ~9200(+/- 100/-) Switch to candles. See rejection area. Arc on candles is not really ideal but on line it is. No view above 9200! MAs need to catch up. #TATAELXSI pic.twitter.com/WNJRZZedrj
— Ameya (@Finstor85) March 30, 2022
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