Chalet Hotels Ltd BUY 840 TARGET 860/884 SL 827 SHORT TERM
Technical Analysis of Chalet Hotels Ltd (30-min Chart)
1. Trend Analysis:
-
The stock has been in an uptrend after forming a base at lower levels.
-
The zig-zag pattern drawn in blue indicates higher highs and higher lows, confirming the bullish trend.
-
The recent retracement shows a pullback from the resistance zone, suggesting consolidation.
2. Support & Resistance:
-
Resistance: ₹884.85 (upper red line, Fibonacci 0.786 level)
-
Support Levels:
-
827.15 (Fib 0.618) – A crucial support level where the price is currently consolidating.
-
791.10 (Fib 0.5) – If 827.15 is broken, the next support is at ₹791.10.
-
752.75 (Fib 0.382) – Strong support in case of deeper correction.
-
3. Target & Stop Loss:
-
Target: ₹884.00 – This is the next potential upward target based on Fibonacci 0.786 level.
-
Stop-Loss: ₹827.00 – The Fib 0.618 level acts as immediate support, so a break below may trigger more downside.
-
Alternate Stop-Loss: ₹791.00 (Fib 0.5 level) – If taking a higher risk, stop-loss can be placed below this.
4. Technical Indicators & View:
-
The stock is currently retesting support at Fib 0.618.
-
Volume analysis: A rise in volume could confirm the continuation of the uptrend.
-
Breakout Confirmation: If the price sustains above ₹850-860 levels with good volume, it may head toward ₹884 and beyond.
Final Strategy:
-
Bullish Bias: Buy near ₹827-830 with a target of ₹884.
-
Risk Management: Maintain a stop-loss at ₹827 (conservative) or ₹791 (aggressive).
-
Breakout Confirmation: If price crosses ₹860 with volume, bullish momentum will strengthen.
Technical View & Target Analysis for Chalet Hotels Ltd (NSE)
The stock is currently in an uptrend but experiencing a retracement near key Fibonacci levels. Let’s analyze short-term, medium-term, and long-term targets along with stop-loss levels.
1. Short-Term View (Next Few Days to 2 Weeks)
-
Trend: Consolidation with bullish bias
-
Support: ₹827 (Fib 0.618)
-
Resistance: ₹860 (Recent high)
-
Target: ₹860 - ₹884
-
Stop-Loss: ₹827 (Strict SL below Fib 0.618)
-
Strategy: Buy near ₹830-840 with a target of ₹860-884.
Risk Note: If ₹827 breaks, expect a dip to ₹791.
2. Medium-Term View (Next 1-3 Months)
-
Trend: Strong bullish structure
-
Support: ₹791 (Fib 0.5)
-
Resistance: ₹884 (Fib 0.786)
-
Target: ₹900 - ₹920
-
Stop-Loss: ₹791 (Strong support zone)
-
Strategy: Buy on dips near ₹810-830 for ₹900+ targets.
Risk Note: If ₹791 breaks, expect a retest of ₹752.
3. Long-Term View (3-12 Months)
-
Trend: Bullish continuation (if support holds)
-
Support: ₹752 (Fib 0.382), ₹665 (Major Demand Zone)
-
Resistance: ₹965 - ₹1000+
-
Target: ₹1000 - ₹1100+
-
Stop-Loss: ₹752 (For positional traders)
-
Strategy: Buy near ₹800-820 levels, hold for ₹1000+.
Risk Note: If ₹752 is broken, expect a deeper correction.
Final Conclusion & Strategy
-
Short-Term: ₹860-₹884 target; SL ₹827
-
Medium-Term: ₹900-₹920 target; SL ₹791
-
Long-Term: ₹1000-₹1100 target; SL ₹752
📈 Trend remains bullish as long as price stays above ₹791 in the medium term.
No comments:
Post a Comment