Hello friends, I have tried to conduct some initial level technical analysis on CAMS
My frame of analysis is weekly candles and I start from Oct 2020, when it listed on NSE
If one considers its rise from then to Oct 2021 as 1st wave and then the subsequent sharp fall till May 2023 as 2nd wave, then right now CAMS is in a 3rd wave and as per Elliot wave theory, I believe CAMS will eventually touch the 3rd wave target of Rs. 6495.
If I take an alternative look at CAMS and consider the Trend Line Breakout set-up that it formed when it broke out of the angular trendline in early Jul 2024 and retested the trend line in late Jul 2024 and Aug 2024, it tells me that eventually it has to hit the TLBO target of Rs. 5785.
I invite senior valuepickers to evaluate if I am mistaken in my analysis!
| Subscribe To Our Free Newsletter |
