Sometimes, a straightforward price pattern, when combined with price indicators and advanced technical tools like Elliott Wave, can yield remarkable results! See yourself how we identified such a massive move in RAMCO Industries. Check out how we accurately predicted on the possible up move on RAMCO Industries which has rallied more than 6% achieving our targets and made a high of 324.35 levels.
We published the following research on RAMCO Industries pre-market on 29th November 2024 in "Vayu Momentum Report” which our subscribers receive pre-market every day.
RAMCO Industries Daily chart anticipated as on 29th November 2024
Wave Analysis as on 29th November, 2024:
RAMCO Industries since 8th November, was struggling to give a close above its crucial resistance level which was near 295 levels. In the previous session, prices finally managed to give a close above it when major indices were falling. At the end stock closed on a positive note with a gain of 2.36%. A bullish candle closing above 295 levels further strengthens the stock’s outlook. Now we need follow up buying which can lift the prices higher towards the upper Bollinger bands which is near 312 levels. Also, RSI is currently trading near 68 levels which gives prices the space to trend further.
As per wave perspective, wave (B) completed on the downside near 230 levels and since then the entire rise is in form of wave (C).
In a nutshell, trend for Ramco Industries looks bullish. Follow up buying is required positive momentum to continue with the targets of 312 levels or higher.
Key Resistance: 320
Key Support: 295
Strategy– Long positions can be created above 305 levels with the targets of 312 levels followed by 320 levels with the stoploss of 295 levels.
RAMCO Industries Hourly chart Happened as on 9th December, 2024
Happened – As we expected after breaking above 305 levels, stock achieved both our given targets. Prices showed a good rally of more than 6%. This demonstrates that a combination of Price action, price indicators, and Elliott Wave can help achieve targets more confidently and consistently!
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