allied digital

Software company having book value 98 which is very high and it may form double bottom if we see it in monthly time frame .



but at the end it has made 5 wave of Elliott , after the 5th wave it has formed contracting triangle . if it breaks out then buying price will be 25 rs.
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BUYING PRICE -25 ,Stoploss- 10
this triangle took 4 weeks to form. after breakout it can show a good move.
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ANOTHER VIEW
it has formed cup with handle and this formation is 1 year formation so after breakout it can give you 100% of return.

Kommentar:

oops broken down. you cant short these stocks so i didnt give the downward target.
BUT there is 1 more buying position @ 38.2 % which is @ 20.65 rs.
with stoploss of 5 rs .
the target will be same