Tuesday, January 8, 2019

Kajaria Ceramics: capturing a move of 5% in 5 days!

Kajaria Ceramics showed amazing rise and gave nearly 5% return in just 3 trading sessions after breakout and in 5 sessions after getting initiated. For intraday trader this might look like a small gain but trust me in current market when you can play a bit safe and generate more than 5% return in just 3 to 5 trading sessions is a great work.

We have been publishing this type of stocks in our momentum research reports and based on Elliott wave counts have been recommending trade setup, entry level, partial profits, targets and ofcourse stoploss.

Below is the chart showing detailed analysis published in our research report -“The Financial Waves Momentum Update”

Kajaria Ceramics 60 mins chart: (Anticipated as on 26th December 2018)

Kajaria Ceramics 60 mins chart: (Happened as on 8th January 2019)

Following research is taken from Momentum report published on 26th of December 2018.

Buy Price – Buy above 496
Time Horizon – Not Applicable
Investment – 5% of capital
Target price – (given in actual research)
Stop loss – ???
Partial Profit levels- 515

Wave analysis:

Kajaria Ceramics after forming an important low 310 showed strong bounce back and has managed to break above the multi-month channel resistance. This indicates that the complex correction pattern is over at the lows and we have started seeing pullback on upside of the entire fall. 20 days EMA is also providing strong support to prices.

As shown on hourly chart, prices are moving higher in the form of wave (iii) and move above the high of 496 can intensify the buying pressure in this stock. For these counts to remain valid we should not see overlap of ongoing leg with minor wave i which is at … levels and so the same will act as a good stop. Any overlap here will suggest wave (ii) is not yet over. We can expect a target of ………...

One should keep looking at booking partial profits to ensure the capital remains protected and trail the stop to cost for remaining positions. So, use move towards 515 for booking partial profits. BANG ON!!

Happened: Prices moved in line with our expectation. Kajaria Ceramics gave a break above its resistance on 496 levels and surged towards higher levels of 515 followed by 520.55 levels. This stock managed to give a move of more than 5% in just 5 trading days after getting initiated and in just 3 days after the breakout happened.

The above research clearly shows how one can capitalize the study of Elliott wave and ride the ongoing trend. We are coming up with another momentum stock today. Don’t miss it. Subscribe here now and keep riding the trend in outperforming stocks!

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