CYIENT: Investment stock selection using Elliot wave and Time
Feb 17, 2023
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We had published about CYIENT in January 2023 and predicted a possibility of Multibagger returns in the coming 1-2 years. This stock has managed to give almost 15% returns in just 12 trading sessions and recently made a high near 947.70 levels.
Below is the chart which shows a detailed analysis of CYIENT which helped to predict target levels using the Elliott Wave technique and Time cycle. We recommended this stock when it was trading near the 856 levels and was successfully able to catch the up move.
CYIENT Weekly chart: (Anticipated as on 27th January 2023)
CYIENT Daily chart: (Happened as on 17th February 2023)
(Following research is taken from Multibagger report published on 27th January 2023)
Multibagger stock recommendation: CYIENT
Buy Price – Buy at CMP 856 more on dips towards 760 level.
Time Horizon – 1 - 2 years
Investment – 5% of capital
Target price -??
Stop loss -??
Anticipated as on 27th January 2023- Elliott Wave Analysis: In the weekly time frame as per wave perspective, the entire primary wave 4 was in form of diametric pattern. Stock completed primary wave 4 near the lows of 184 levels in May 2020. Since then, primary wave 5 is moving on the upside. The stock made a life time high near 1292 levels in October 2021 by completing wave 1 on the upside and since then stock witnessed a good fall which was in form of wave 2. For now, any move above 920 levels can suggest that intermediate wave 3 has started moving on the upside. However further follow up buying is required to confirm the same.
We have applied Time Cycle to mark the important lows and also to catch its reversal. 139 Weeks’ Time Cycle is working extremely well in this time frame. This cycle has successfully managed to capture important lows. Currently, cycle is due and any move above 920 can turn cycle on to buy side and after which trend on the upside can be seen in the coming sessions.
Happened as on 17th January 2023 – After a minor dip, the stock has started moving higher, and currently, it's trading near 920 levels. On 14th February 2023 prices made a high of 947.7 levels. The current rise is strong and we can expect prices to achieve its target of ….. levels in coming months. The stock has given returns of nearly 15% within less than a month of span.
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