Technical update 03/10/2022 - Maharaja

Maharaja · 1 Technical update 03/10/2022 - Maharaja Sun Oct 02, 2022 9:29 pm

Maharaja

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Dear followers,

A superb and clear BULL flag has formed now. Tomorrow technically the BULL flag will break up and ASPI will cruise upwards testing 10100/200 levels once again. A break from this means 10800 on the cards immediately.

How market supported and absorbed all the margin selling shows how strong the buying pressure is. Also massive foreign buying is helping the upward trend. Maharaja expects good financial reports in the coming quarters.
Select fundamentally strong counters. Conglomerates can be attractive than penny stocks in this coming weeks.

*This is not financial advise. Please do your own research. Do not use above information to take any financial decision.

Maharaja

SamJay1974 · 2 Re: Technical update 03/10/2022 - Maharaja Mon Oct 03, 2022 12:35 pm

SamJay1974

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Maharaja wrote:Dear followers,

A superb and clear BULL flag has formed now. Tomorrow technically the BULL flag will break up and ASPI will cruise upwards testing 10100/200 levels once again. A break from this means 10800 on the cards immediately.

How market supported and absorbed all the margin selling shows how strong the buying pressure is. Also massive foreign buying is helping the upward trend. Maharaja expects good financial reports in the coming quarters.
Select fundamentally strong counters. Conglomerates can be attractive than penny stocks in this coming weeks.

*This is not financial advise. Please do your own research. Do not use above information to take any financial decision.

Maharaja

What the hell happened today? Panic selling? Correction? Or ASPI heading towards 6000-7000?

Maharaja · 3 Re: Technical update 03/10/2022 - Maharaja Mon Oct 03, 2022 2:20 pm

Maharaja

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LIOC & EXPO drop caused market panic. No fundamental reason for this drop.
Tomorrow market will recover.

Maharaja

DeepFreakingValue · 4 Re: Technical update 03/10/2022 - Maharaja Mon Oct 03, 2022 3:29 pm

DeepFreakingValue

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- LIOC dropped because of reduction in fuel prices and government limit on new petrol stations which affect their future earnings.
- EXPO dropped because it is simply over valued.
- BIL dropped because of the rumour of a rights issue.

Rupee is likely to be devalued against USD further.
Tourist Arrivals to fall short of 1 mn target.
TB Rates likely to reach 40% by December 2022.

Market is going to be red tomorrow as well.
ASI Technically crossed the 200 day Moving Averages generating a downward trend.
Heading towards 8700.