Hello Traders,
You must be already knowing what is phase 2 and what does it mean for a stock when it is entering in phase 2.
According to Richard D Wyckoff, the biggest money is a minted in shortest possible time is the phase 2 out of the 4 phases of the market cycle.
for more detail of market phases & phase 2 stocks do read below https://highkonvictiontraders.wordpress.com/2020/06/10/ujjivan-finance-entering-in-phase-2/
In the above chart,
As we can see the stock has gone down from all time high of Rs. 999 made on 8th january 2021, to as low as 264 made on 11th may 2022
the stock has been consolidating in a tight range ever since it has gone below 300
Off late the stock is showing some good recovery and has come up above the EMA 20 & EMA 50. The stock has also shown a positive crossover of both the moving averages mentioned above.
In 3-6 months time, there is huge potential for the stock to go up and touch the 544 level which is 38.20% retracement level of the drop form 999 to 264.
However one can only take the trade with a risk of a stop loss below 320.
Caution: don’t risk your money if you don’t follow the trading rules
Trading Mantra :
“Knowing when to exit is far more important than knowing when to enter in to a trade”
