Basic price patterns and price indicators work in unison, leading to interesting results! Our recent analysis on PB Fintech, affirms this theory and makes one trade more confidently and with certainty! See below our prediction on PB Fintech, a momentum stock that has rallied by more than 7% in just 3 trading sessions.
Ichimoku cloud - The Ichimoku Cloud is a technical tool that indicates the support and resistance, identifies trend direction, gauges momentum, and provides trading signals.
We published the following research on PB Fintech pre-market on 27th November 2024 in "Vayu Momentum Report” which our subscribers receive pre-market every day.
PB Fintech Daily chart anticipated as on 27th November 2024
Wave Analysis as on 27th November, 2024:
As IT was the top performing sector in Nifty in the previous session, Infosys gained more than 3.72%. PB Fintech Ltd since September 2024, was consolidating in a broader range of 1585-1775 levels. Recently, prices have given a breakout of the consolidation and managed to show good rise.
On the daily chart, since past 2 days prices have formed a strong bullish candle consecutively suggesting increase in buying momentum. Also, prices faced support of the Ichimoku cloud and witnessed sharp pullback on the upside. For now, we can expect bullish momentum to continue and can expect minimum targets of 1970 which is a previous swing high level.
In a nutshell, the current trend for PB Fintech has shifted on the positive side. A break above 1865 levels is must for bullish momentum to continue. While on the downside 1800 is the crucial support.
Strategy – Long positions can be created above 1865 levels with the stoploss of 1800 levels with the target of 1920 followed by 2000 levels.
PB Fintech Happened as on 4th December 2024
Happened – As we expected stock witnessed a good rally of more than 7% within 3 trading sessions and BANG ON!! The stock achieved both our given targets. As IT has been consistently outshining all the other sectors, PB Fintech is following along. It is fascinating to see how accurately combining basic indicators along with price can help to predict price targets with accuracy.
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