Railway stock remains in deep slumber most of the time except during the railway budget time. Before they wake up why not get on to the train early? Railway budget will be presented in January-February month market have lots of hope and Suresh Prabhu is already doing a great job. Market always buys on rumors and sell on news. Lets check out what’s the charts are saying about the railway budget related shares.
Titagarh Wagons Limited
On the daily chart. TWL has given a breakout from symmetrical triangle pattern with rising volume whose target comes out to be 148
If we apply Elliot wave we can see the stock is most probably about to start the 5th wave move. After the super-fast upmove of 3rd wave the stock took support at the 61% Fibonacci level. The minimum target for 5th wave will be 175
On the daily chart the stock has given a breakout from cup and handle pattern whose target comes out to be 156-170 levels.
Inverted head and shoulder breakout on the daily chart whose technical target comes out to be 160
The stock is not so strong on the chart. On the daily chart it has formed morning star trend reversal candlestick pattern at which suggest the down move is most probably over, provided it does not go below 1020 which is the recent low. Above 1200 the stock will get more momentum on the up side
Disclaimer: This article is for information purpose only not any advice of trading or investing. Readers are suggest to do their own research or consult their financial advisor.