Spandana Trend Reversal, breakout of historic support Breakthrough with good volume and Bullish divergence in RSI
Spandana Sphoorty Financial Limited
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SPANDANA Breakout of a Descending ChannelSPANDANA breaks out of a descending channel with a decent spike in volume, confirming a bullish breakout and is at a good entry.
The stock gave a massive 19% rally in 2 days already.
Follow me for more opportunities.
Forming hammer near all time low - on weekly time frame"Rebounding from the Bottom? A Hidden Gem in Spandana Sphoorty!"
🔍 Analysis:
Spandana Sphoorty, trading 75% below its All-Time High (ATH), shows strong signs of a potential turnaround:
📊 Weekly Chart: Forming a bullish hammer pattern.
📈 Daily Chart: Displaying a morning star pattern near its all-time low.
💰 Valuation: The stock is trading at just 0.68x its book value (Book Value: ₹480; Current Price: ₹332).
🎯 Trade Setup:
Entry: ₹328
Stop Loss: ₹292
Target: ₹401
Risk-Reward Ratio: 2:1
💡 Why This Looks Promising:
The stock has formed strong technical patterns at a crucial support zone and offers a low-risk opportunity for entry.
📢 Disclaimer:
This post is for educational purposes only. Investments in the stock market are subject to market risks. Please consult a financial advisor before making any trading decisions.
SPANDANA SPHOORTY FIN LTD S/RSupport and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Spandana Sphoorty Financial LtdSpandana Sphoorty Financial Ltd, Spandana Sphoorty Financial has approved the issuance of up-to 5,000 Unsubordinated, Listed, Secured, Transferable, Redeemable Non-Convertible Debentures having face value of Rs 1,00,000 each at par on private placement basis. The deemed date of allotment is 05 September 2024.
buy at zone - swingENTRY
- line marked is potential reversal zone ( PRZ)
- entry is strictly inside the zone
- look for buying confirmation in smaller time frame ( 15 minutes preferred )
EXIT
1. target
- mark fib retracement from C to latest swing low
- TGT 1 - 0.236
- TGT 2 - 0.382
- TGT 3 - 0.5 ( preferred target )
2. SL
- candle close below (PRZ)
- if u didn't get confirmation inside the zone , ignore this pick
- if candle close is below zone , this pattern becomes invalid . IGNORE THIS PICK
- RE-ENTRY can be done , if u again get buying confirmation inside the zone
SPANDANA: Multi- year BreakoutThe chart is self-explanatory as always.
If you'd like to request an educational analysis, simply send us 100 coins as a token, and we'll be happy to post one for you.
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Todays morning catch SpandanaWe never know when the trigger will come Did catch the move by alert set up Was long at 803 Now no other work but trail and exit
Spandana is on a Breakout retestAfter the breakout from the falling wedge #Spandana is retesting its levels
5-7 percent upside is set on this stock
buy range - 820-825
SL - 810
Target - 875
Risk reward ratio 1:6
Fasten ur seat belt and enjoy the ride !!!
Resistance Breakout
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Spandana Spoorthy Financials-Nice BreakoutSpandana Spoorthy Financials-Nice Breakout
Capital to be deployed- 20k
Investing Price -790-800
Breakout Price -790
Stoploss -689
Targets -974-1341
#spandana #StocksInFocus #StocksToBuy #stockstowatch #stocks #StocksToTrade #SwingTrading #BREAKOUTSTOCKS
Swing Trade Hold in 6-7 DaysBullish Pennat Breakout in SPANDANA
CMP 600
Target 700
Book 15% and exit
Double wedgd breakout or W -shapeThis is the spandana sphoorty share day chat pattern which is showing breakout of double wedge or w-shape and clearly indicated volume increasing also that is good shine for next lever target and its longterm investment. May nt reach if market crashes under recession
Selling price ‐-----'Rs565
Buying price--------Rs615
1st Target ‐-‐'-----Rs820
Long term or 2nd target Rs 1160
Doubler Candidate
Good Day ,
Hello Traders,
Results are great for Spandana Sphoorty.Looks like a doubler from here as
it is showing momentum upside since bottom made on 20 June 2022.
As per Fibo ratios first target which it will aim for is 655 to 660
Then,it requires consolidation and volume to aim for the next target 885.
A big rounding bottom on the chart is already formed and it is a serious
candidate for Doubler if one keeps in the portfolio for 1.5 years.
Keep 510 as Stop Loss and aim for Targets - 656 / 880 /1197 /1370
Time Frame : 1 or 1.5 years.
Chart Self Explantory.
Disclaimer : I am not SEBI registered analyst, this is for educational purposes.
Please trade as per your risk and do consult with your financial advisor before taking any
trading decisions..
If you really like the analysis , please do comments, LIKE and Follow me.
1sr target breakout after rally of forming of reverse H/S1st target reached as well as resistance breakout after forming of reverse H/S pattern so the rally is continuously up trend.
1st target price Rs615
2nd target price Rs806
Stop-loss Rs575
Spandana showing signs of trend reversalSpandana - Trend Reversal pattern found
Inverted head and shoulder
Solved the management issues
Looks like the stock is no more going to be in the downtrend
Stay tuned!!!
triple bottom on daily chartstock has shown strong support on weekly and daily chart , also has made triple bottom on daily chart
can go long with previous low , shock should bounce , also seen increase in volume
Stock for the week spandanaGood evening friends the next stock which we are going to talk is spandana and the stock is a very good level if the stock is able to sustain above the level of 670 then in the days to come may be in 2 to 3 weeks but our view is only for the week the stock ca seeba move of at least hundred points so this is our view only and not at all any kind of recommendation thank you
Spandana Spoorthy- Best stock to get in nowSpandana Spoorthy is ready to double from here.
Note: This is for educational purpose, please invest your money based on your research.
