RAJESHEXPO: Combining Rounding Bottom with ADX along with Time cycle

We had applied ADX indicator on RAJESHEXPO and were able to capture a 18% move within 2 trading sessions. You can also use these to identify stocks with momentum for short-term trades.

While trading the market it is important to understand the behaviour of the market. Using price action along with simple chart pattern we can predict price moves in stock with high accuracy. Check out how we recently identified one such breakout in RAJESHEXPO.

We published the following research on RAJESHEXPO in our Daily Equity Research Report on 3^rd January 2023 which our subscribers receive pre-market every day.

RAJESHEXPO Weekly chart as on 3rd January 2023 (Anticipated)

RAJESHEXPO Weekly chart as on 6^th January 2023 (Happened)

Wave analysis published as on 3^rd January 2023

RAJESHEXPO has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 5.88%.

On the weekly chart, in the previous session prices formed a bullish candle. A weekly close above 910 level will confirm breakout of the rounding bottom pattern. We have shown ADX indicator which gives an indication if the stock is trending or in a trading range. The low readings of ADX indicates that the stock is in a range. The adx of this stock is 29.92 giving an indication of a trending market. The reading above 25 means strong directional strength.

As shown on the hourly chart, price is trading above the ichimoku cloud which indicate that the short-term bias is bullish. Closest support is placed at 845.

In short, trend for this stock is positive. Use dips towards 875-885 as a buying opportunity for a move towards 985-995 levels as long as 845 holds on the downside.

Happened:

Stock moved precisely as expected and have given breakout of rounding bottom followed by huge volume. In such choppy market we have managed to identify such stock with the help of simple chart pattern along with Time cycle. We have plotted 40 weeks’ Time cycle in which it has captured many important lows and recent low made near 540 levels which was captured by our cycle and since then stock has shown an exceptionally well rally.

In today’s session stock has gained more than 19% from the dip levels and achieved our target and moved above it and made high of 1029.7.

Be a part of Master of Cycles (MOC) that will reveal this secret science of Time Trading to every single one who has been looking forward to trade with a complete plan, increase accuracy, Time the exact entry and exit for Options buying, generate passive source of Income by Options selling. MOC is scheduled on 11th – 12th February 2023 online. Be a part of Elite Trading community #TimeTraders and witness the difference in your trading career.