PVR - Trend analysis using wave pattern and identifying precise entry and exit and targets.
Sep 23, 2021
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PVR was one of the stocks in the Consumer sector moved amazing as per wave patterns which we apply to identify the trend direction and define our entry and exit targets
Along with Nifty index, Consumer sector looks to be moving on upside. PVR is one of the stock that could contribute on higher side as wave theory also shows indication on upside.
We recently gave PVR call to our Momentum calls and research subscribers on 21th September 2021 and we almost achieved our target of 10% within 2 days ! You can checkout the analysis of the stock below as we published in the momentum report.
PVR Daily Chart as on 22nd September 2021
PVR Daily Chart as on 23 September 2021
Following was given on 21st September 2021
Momentum stock recommendation: PVR
Buy Price – Buy above 1487
Target price – 1635
Partial Profit: 1545
Stop loss– 1414
*Trail stop to cost after booking partial profits to ensure capital protection*
Wave Analysis:
On the daily chart of PVR after completing primary degree wave [4] near the lows of 988 levels, wave [5] is ongoing in which intermediate degree wave (2) has completed near 1250 level and currently wave (3) is going on the upside which is often the largest wave in terms of price movement in an impulse wave. Price was consolidating for the last 3 months has finally given breakout. Also the shift in the range of RSI which was also seen during the consolidation period which further confirms the bullish breakout.
The overall analysis suggests to ride the ongoing trend keeping the stop loss near 1414 level and target around 1635 levels. Partial profits can be booked near 1545 levels and trail stop to cost for capital protection.
Happened: The stock rallied more than 10% in just two trading sessions and we almost achieved our target at 1632 levels. It simply shows power of Neo wave patterns and simple technical methods that we use for most of our research.
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