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Upflag Pattern | Fundamentally strong stock under 1000 | CA Rachana Ranade - YouTube
Channel: CA Rachana Phadke Ranade
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Hey folks CA Rachana Ranade here and聽
I welcome you all to a 9 a.m. stream.聽聽
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Why p.m. has become the a.m. live stream and for聽
that I just sort of you know quickly telling you聽聽
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why this stream. If you remember I had done聽
a video on top two stocks which are under 500聽聽
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and in that video I had talked聽
about two stocks, one was,聽聽
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I will tell you the important one, out of the top聽
two stocks, one stock was Amrutanjan health care聽聽
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and in Amrutanjan stock I had discussed about the聽
fundamentals of this stocks absolutely at length.聽
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Okay so I had talked about Amrutanjan healthcare聽
and in that we had discussed that how strong聽聽
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the stock is fundamentally and in that we had聽
talked about it's a stock below thousand okay.聽聽
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Why am I doing this stream? Understand,聽
quickly, I don't want to waste a lot of聽聽
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your time, I am quickly going to share my screen,聽
because I also have a meeting at 10 but I thought聽聽
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this is really a good one, you should be able to聽
understand this. This is Amrutanjan healthcare聽聽
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chart and if you see here very carefully, those聽
who have done my course on technical analysis聽聽
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will be able to identify a pattern very quickly聽
here. Can you identify which pattern can you see聽聽
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on the screen for Amrutanjan, so I love scenarios聽
where the stock is fundamentally very strong plus聽聽
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you can see some pattern based on technical聽
analysis and which pattern is that I want everyone聽聽
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to tell me quickly um absolutely Chirag, Raviji,聽
everyone has got it right very nice very nice.聽聽
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It's an up flag pattern, for those who don't know聽
about this let me just quickly tell you how that聽聽
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upload pattern is working, because if you can聽
identify Upflag pattern in that, you can also聽聽
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try and gauge what could be the target okay. So聽
just quickly I am drawing this, this is like the聽聽
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cloth of the flag and this is the poll that I am聽
talking about okay. So if you just check this out,聽聽
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the target that can be calculated using up flag聽
is that the pole should be added from the base聽聽
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of the flag on a conservative basis okay, even if聽
that be done, ideally the target is 950. Again,聽聽
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I never talk about direct recommendations聽
buy this buy that, but then you know if聽聽
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it's a fundamentally strong stock plus an amazing聽
breakout on the Upflag pattern, why not okay. So聽聽
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am I going to buy? Answer is yes, this is the聽
target for which I am going to buy. You have聽聽
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to do your own analysis. I have done fundamental聽
analysis of that, I have shared it on the channel聽聽
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okay. When we discussed it on our channel it was聽
around 8 35 and today pre-opening, it is at around聽聽
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9 25, so this has happened in less than a month.聽
So feels good that whenever we do the analysis,聽聽
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100% fundamental analysis then and if the stock聽
performs well, feels obviously good why not and聽聽
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plus you can see on the charts technically also聽
it looks very positive right now. What about MACD,聽聽
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there is a bullish crossover. So again a positive聽
point, if you see volume highest as compared to聽聽
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last five trading sessions, if you see RSI, RSI聽
is my only concern because it's already at 80 and聽聽
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as you can see in the live market it has already聽
opened above yesterday's closing, way to above聽聽
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yesterday's closing. It's already at 9 30 but it's聽
going very close to our target of 9 50. So wow聽聽
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this is the first time I am showing this something聽
like this on the live screen and feels good,聽聽
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I think whatever analysis we have done, this聽
target ideally should be met within a day or two,聽聽
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so let's see how it happens. Again a disclaimer,聽
this is not a stock recommendation. I am not a聽聽
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SEBI registered investment advisor but I thought I聽
identified something so I just thought of you know聽聽
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mentioning this in my live stream. If you want聽
to learn more and more and more about technical聽聽
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analysis then I would highly recommend you all to聽
visit my website rachanaranade.com and you can use聽聽
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this coupon code also if you want uh some聽
additional discount, so that's the coupon code聽聽
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for you, CARRYT that will help you to identify聽
all these different different technical analysis.聽聽
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The stock name is Amurtanjan for those who joined聽
in late. So let's see how the stock performs today聽聽
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and today 9 p.m. it's Thursday live stream so聽
don't forget to join in at 9 00 p.m. today.聽聽
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We will discuss about how this stock performed as聽
well. So for those who join in late just a quick聽聽
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wrap up. I did discuss Amrutanjan healthcare, we聽
had talked about this stalk under the video title,聽聽
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fundamentally strong stocks under a thousand,聽
it did really well and today we do see an Upflag聽聽
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pattern so it'll be interesting to watch how the聽
stock performs today right. So keep a close watch聽聽
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on this talk today and let's see how it performs,聽
in the opening trade itself it's almost 4.2聽聽
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percent up so let's see. Okay so that's it from聽
my side guys don't want to take a lot of your聽聽
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time and I also have a meeting at 10 so till then聽
take care, Jai Hind see you at 9 pm today bye.
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