When combining basic price patterns with technical indicators like ADX, it can lead to remarkable results in trading. See how we captured a significant move in Devyani International Ltd stock by applying the ADX momentum strategy. Check out how the stock rallied by more than 18% after our prediction.
We published the following research on Devyani International Ltd on 27th December 2024 in the “Vayu Momentum Report” which our subscribers receive pre-market every day.
DEVYANI Daily chart Anticipated as on 27th December 2024
Devyani International Ltd. closed on a positive note with a gain of 1.83%. The stock is moving in a rectangular range over the last few days indicating accumulation in the stock. A daily close above 184 will confirm breakout of the said pattern. On the daily chart, ADX is suggesting strong momentum can continue in this stock as it is showing readings of 26.61 which is above 25. For now, one should use buy on dips approach to ride the trend.
Key Resistance: 200
Key Support: 176
Strategy: A break above 184 can lift price higher towards 191 followed by 200 levels as long as 176 holds on the downside.
DEVYANI Daily chart Happened as on 06th January 2025
Happened: The stock moved as expected. DEVYANI showed a rise of more than 18% despite major indices falling and achieved both our given targets in just 7 trading sessions and made a high of 203.40 levels. We successfully captured this entire rise by simple price action and ADX.
It is fascinating to see how accurately combining basic indicators along with price action can help to predict price targets with accuracy.
Want to know more about such stocks DEVYANI is on the mark! subscribe to our Vayu Short-Term Update: Get a list of stocks with high growth potential: Check Here
No comments:
Post a Comment