We have been bullish on this stock since start of 2016. Atul ltd has managed to continue its outperformance irrespective of market conditions. Even when selling was witnessed in domestic market, this stock managed to protect its grounds. Today this stock has made its all-time high near 3415 levels.
We published about Atul ltd in August, 2016 and predicted a possibility of Multibagger returns. The stock gave almost 80% from the levels given in just over two years. The stock moved from 1900 levels and made intraday high of 3415 today.
We were able to predict this level using Time Cycle, Elliott wave technique and Channels. Prices post completing wave (iv) gave a break on the upside in the form of wave (v) precisely as expected.
Atul Limited weekly chart: (Anticipated as on 06th of August, 2016)
Atul Limited weekly chart: (Happened as on 16th October, 2018)
Elliott Wave analysis: Below is the research published on 6th August 2016
On the above weekly chart we can see that since 2011 prices are moving in impulsive fashion between the black channels. We have picked up this stock as it looks to a wealth creator in the upcoming years and exhibits great potential. Post making a significant low in 2009 near the crucial channel support in the form of wave . Prices are rallying on upside in the form of wave  which has given more than expected returns and the same can continue over coming years.
The internal structure of wave  suggest that prices are rallying on upside within a narrow channel. Recently post the completion of minor wave iii near the resistance, wave iv is completing its course after which we can expected wave (v) of III of . So still there is lot of room to be covered over coming years.
We have applied time cycle of 110 weeks which has helped us capture the previous pivot support zone and it is acting as a bottoming cycle. Now the recent low was made near the cycle and so the trend should be positive from here on.
An important thing to notice is that 100 weeks moving average is working brilliantly on the above chart and prices have respected the same. So as far as this is intact it is better to stick to the ongoing trend and any pullback towards this average will provide good buying opportunity.
In short, all the evidences end up with a positive outlook for this stock. From here on minor dips can be seen as prices are in wave (iv) which would provide good entering opportunities for this stock. On upside, prices can rally towards the channel resistance as per the path shown and we can expect the targets of 3100 levels in coming years.
“On upside, prices can rally towards the channel resistance as per the path shown and we can expect the targets of 3100 levels in coming years.” BANG ON!
Happened: Atul Ltd moved precisely as expected completing wave (iv) on downside and giving a break on upside in form of wave (v) making a high near 3415 levels in today’s session.
Which are the next Multibagger stocks that can give multi fold returns like this over the coming years even in such market conditions! For that you need get accesses to our “The Multibagger research report” which will help you in creating your own portfolio. Check here.
To know how to apply these studies and identify such stocks which can help you give multi fold return. You can attend my training on Elliot wave, Neo Wave and Time Cycle to be conducted on 24th and 25th November, 2018 for the first time in Ahmedabad. Know more.