Pokarna - Stocks Trade Setup for 10% Move

elliott wave pokarna stocks Aug 16, 2021
Pokarna , Stocks

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Simple strategies like channel techniques and price patterns can be combined to achieved powerful results. Check we selected Pokarna which has rallied more than 12% within a span of few days

We published the following research on POKARNA pre market on 03rd AUGUST 2021 in The Financial Waves Short Term Update which our subscribers receive pre-market every day.

POKARNA Daily chart as on 03rd August 2021 (anticipated)

POKARNA Daily Chart as on 16th August 2021(happened)

Following was published in morning daily research on 3rd August -

POKARNA has been moving higher recently and intact in strong uptrend. In the previous session it closed with a massive gain of 13.17%.

On the daily chart, in the previous session the stock formed a strong bullish candle. We can see rounding bottom pattern has formed. Price has closed above 415 which confirm breakout of rounding bottom pattern. 9-day period Exponential Moving Average is acting as a brilliant support line and it has provided support at regular intervals. This suggest that one should be in the direction of the ongoing trend as far as this line is protected and any pullback towards the same should be utilized as buying opportunity.

In short, trend for this stock is positive. Use dips towards 440-435 as buying opportunity for a move towards 470-475 levels as long as 415 holds on the downside

HAPPENED: It has touched its new lifetime high near 509 levels on 13th August 2021. The stock has given return more than 12% within a short span after we covered it in our research report.

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