Technical Analysis Discussion
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Please use this thread to discuss anything related to technical analysis – price trend, support, resistance, etc.
Disclaimer: These are individual views and the forum should not be held responsible. You should discuss your specific requirements and situation with a qualified financial adviser.
Being a long term investor, there is hardly any meaning that can be derived from charts, and I know many would have noticed this, but BCG took support of 50ma on daily
Price took U turn at 61.8% retracement level
Bright Venus ji @51.80% bcg retraced hope it crosses 13.02 this time
Now the stock is near to its 200 DMA which is around 6.31 , we need a reversal next week for sustaining the Uptrend which started in May
This counter has been abused and ignored by reasons best known to us. The time has come and tide is turning. The current fall from the break out high of 12.5 to 5.10 in 3 months is a very heartening sign if you see the technicals, commentary from the management and above all the crisp interest from investors of all sizes. This counter may see the worst case lows of 5 which is already seen once and then we may see stock rising to levels of 22 in next 1 year time. Why? The monthly chart pattern is a very powerful forecasting tool if used properly. This pattern records all price actions generated from news, events and expectations (euphoria and panic). The stock has retraced 50% Fibonacci to 12.5 from lows of 2.27. So, this pattern has to complete once the correction is over.. I expect 100% Fibonacci level for coming leg of rally at 22.5!! We may see another pattern developing by then based on market dynamics, company performance and investors sentiment. I would update on next move once we see this level is achieved in 2021. Good Luck!!
Dear Friends, please share your views on the attached. Thanks
@drjaysee, it is very difficult to comment as their understanding of the business of the group is negligible. It is purely a numbers based analysis with no knowledge of the industry that BCG is in and there are no meaningful company comparisons.
Dear @odysee and @Logan, agree with you both. Thank you
Dear Friends, appreciate if anybody could find the fair value and intrinsic value of BCG. Really I don’t know how to calculate even by using the below formula.
Intrinsic Value Calculator India
Thanks
@conservative_Indian
Could you share Fibonacci analysis for the recent months.
According to me it may take bull run shortly.
Lower circuit on Friday is not good from short term TA prospective. I am afraid It could again be in range of 5-6. And it has to stop moving in circuit to circuit (either upward or downward) for better performance in long run..
It should turn above 5.85 this time and complete inverted head n shoulder pattern before resuming any upward movement. Close below 5.85, can lead upto 4.8 or retest levels of 3.
Bedi i hv been in this since 6 yes it never follows any tecnicals only news and pperater driven.. but one thing i noticed last 6 months is that both uc and lc is trading with big volumes more than 30 lakh all these yrs this used to go to uc and lc with thin volumes.. lc with huge volumes is gud but uc with huge volumes not gud as its always operaters and big fish u sell on uc retailers never sell at uc becauseof greed thy want to sell next day at 5 % more.. anywaybefore many analyst used to dismis this stock as illiquid stock now that label can be removed:) lets see wht happens .. as something is brewing
Sumeshnair2005 ji this time after exchanges approval of warrant big upmove and lot of news lined up
Nair, efforts n hope should be on positive side. Nothing is holy grail, yes it has failed technical analysis many times. But we are still with BCG on hope it will fulfill our expectations. I could be 100% wrong but it has worked for me in this very same script. Let’s all Prosperous together..
Taking support at 6.65 twice this month. And high volumes seen in last hour.
@drjaysee, the article is too shallow and does not indicate that any meaningful study in depth has been done of BCG or the industry it operates in.
Comments and analysis based on simplistic ratios provide no guide to serious potential investors.
Thanks for the link though.
I am a bit confused on the term used by them of ‘statutory earnings’.
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