{"id":12184,"date":"2023-03-14T14:53:24","date_gmt":"2023-03-14T09:23:24","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=12184"},"modified":"2023-03-14T15:02:49","modified_gmt":"2023-03-14T09:32:49","slug":"is-the-counter-a-good-bet-from-long-term-perspective","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/","title":{"rendered":"SW Solar: Is The Counter A Good Bet From Long-Term Perspective?"},"content":{"rendered":"\n<p>Global markets turned jittery after SVB Financial Group updates. Things seem scary, but markets have been directionless for many months now, and stock-specific opportunities are arising. One such counter is Shapoorji Pallonji Group, where Reliance New Energy has a 40% stake in <a href=\"https:\/\/www.tickertape.in\/stocks\/sterling-and-wilson-solar-STEN?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/stocks\/sterling-and-wilson-solar-STEN?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" rel=\"noreferrer noopener\">Sterling and Wilson Renewable Energy Ltd<\/a> (SW Solar). Let\u2019s dive deep into the different charts and understand the price formations.<\/p>\n\n\n\n<p class=\"sc-embed\" data-width=\"500px\" data-orders=\"%5B%7B%22quantity%22%3A10%2C%22ticker%22%3A%22SWSOLAR%22%7D%5D\" data-cardsize=\"big\" data-withtt=\"true\" data-withsearch=\"true\" style=\"width:500px;min-height:300px;display:flex;align-items:center;justify-content:center\"> <strong>loading widget to trade SWSOLAR<\/strong> <\/p> <script async=\"\" src=\"https:\/\/www.gateway-tt.in\/assets\/embed.js\"><\/script>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-Price-action\" title=\"Weekly: Price action\">Weekly: Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-Price-action-2\" title=\"Weekly: Price action\">Weekly: Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-Fibonacci\" title=\"Weekly: Fibonacci\">Weekly: Fibonacci<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-RSI\" title=\"Weekly: RSI\">Weekly: RSI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-MACD\" title=\"Weekly: MACD\">Weekly: MACD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-Ichimoku\" title=\"Weekly: Ichimoku\">Weekly: Ichimoku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Weekly-Supertrend\" title=\"Weekly: Supertrend\">Weekly: Supertrend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Daily-Price-action-with-Ichimoku\" title=\"Daily: Price action with Ichimoku\">Daily: Price action with Ichimoku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tickertape.in\/blog\/is-the-counter-a-good-bet-from-long-term-perspective\/#Putting-it-all-together\" title=\"Putting it all together\">Putting it all together<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Price-action\"><\/span><strong>Weekly: Price action<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/BKkdloTSI1DDMZsKwya9jEqO4itQgqo_d-3NvJNK8Se_fTWPBwNSFG0JBcElWGyeseD_qu5ER3-recShHkVc4-mSnD2KA4RFZtNYtNJMLBCLmTAXOxyfU9Y_cMqcqMJmTheasrVL4V7mdM0Z1K7AsQ\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p>Since listing, the prices have clearly been down. The most recent formation of the last year shows sideways behaviour. For the first time, the whole sideways consolidation seems to be coming to an end. The first breakout of the yellow trendline is confirmed with volume. The final breakout of the whole downtrend is to be seen in the time to come.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Price-action-2\"><\/span><strong>Weekly: Price action<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/wyJO_tg5Qvy2qau-29-wPUEpC4QqmTOKMnibe1iXBsrLymFn6SmGxIpIjqX6r88iMs2-W5GyikkBmE0YSt_W8DozZdYBOAoz_HoPST8v2X9MgdmK6OBWOw8adXoLyM1b7oWEmTf2iclvSqJKItmhnw\" width=\"643\" height=\"304\"><\/p>\n\n\n\n<p>If we just focus on the most recent price action, the price saw a squeezing formation, making a falling wedge pattern, whereas the past week saw a volume-supportive breakout. The reliability of this pattern is very high, and one can certainly consider this counter for positional trade.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Fibonacci\"><\/span><strong>Weekly: Fibonacci<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/G3wJhXWSoIrgOYszwx_C51uikfbgdMxNPY98m2_wIYsDIA4ITl9hxJpoaUEoStr9ak397oLvIK0vS1NPoKGmqWBYQYTdWClnonfo-mAYZsnAySs3reHWd2HPn4_ZkJMNMKQrzIJMMiE4sMrK0lFykg\" width=\"643\" height=\"304\"><\/p>\n\n\n\n<p>From the extremely low price of 2020, if the peak of mid of 2021 is considered, the recent correction halted somewhere near 61.8% Fibonacci retracement. But if the last swing from the low of June 2021 to the peak is considered, the price halted exactly on 88.6% retracement. Both the retracement levels coincide with each other, along with the trendline support, which is highlighted in yellow colour. This inflexion zone of 250 mark can be the best support for the counter from the long-term perspective.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-RSI\"><\/span><strong>Weekly: RSI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh3.googleusercontent.com\/nJHf8aqc00RcghIgbuCuWJfH10fwgOAFUUeXku-ltZeVhfjTC0ku9rgXD79MzAbou5n00g-HwLHAHG_64jIsGal8sA6qkFQ-H-zkchtEnJ8wKMtpKRZSwtDDkUZ6ZwZL4nPrU8KlUSXqfwfVs_8IoQ\" width=\"643\" height=\"302\"><\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Relative Strength Indicator<\/a> (RSI) is a <a href=\"https:\/\/www.tickertape.in\/blog\/momentum-indicator\/\">momentum indicator<\/a> which confirms the strength of price action in its past 14 periods. With the price breakout, RSI is reaching the overbought area of 70, confirming really good strength on the price action. One can consider this counter for positional trade and accumulate on the dip.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-MACD\"><\/span><strong>Weekly: MACD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh4.googleusercontent.com\/VQmsELfLKIe8NSbHt18vli3rwT6wHCoiG6sBFqsWfpQvT1Ap5F8N24scbmKxK9bkSEjlRF-ll2gqME49qsWJpAV5yFBvkDvZU1uf4k1p7acdN9m-KYEStj8nICJK-GOqrikMkkhJzijqEocTKHKrJQ\" width=\"643\" height=\"305\"><\/p>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Moving Average Convergence Divergence<\/a> (<a href=\"https:\/\/www.tickertape.in\/blog\/moving-average-convergence-divergence\/\">MACD<\/a>) is a lagging indicator and confirms the trend at different stages. One such confirmation is when MACD crossover is followed by zero line crossover. Here on the chart, we can see MACD has decisively crossed the zero line, and the gap between indicator lines is widening, which confirms the trend change with strength. Being a lagging indicator, MACD confirms the trend a little late but with more reliability.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Ichimoku\"><\/span><strong>Weekly: Ichimoku<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh6.googleusercontent.com\/jy58grdt36vfcCYFGEUFe1Xc2Ot9i1PFXeEA_FyOx1QtawbAB9EaCIum4X_Wdom8l20LVv0la_SxSmJMgH2BY01XvlqPBbYXPh5M5S4BQf3LqRPyw9wdfuvd_NVRuTB9Q1TAQ2uvFGNVvz93zA3nAQ\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p><a href=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" data-type=\"URL\" data-id=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Ichimoku<\/a> is an equilibrium trend-following indicator. There are many ways by which you can confirm the signals. On the present formations, Tenkan &#8211; Kijun crossover is on the cards, and the price has also entered the Kumo cloud. There seems to be more space on the upside till the 375-380 zone. Kindly note that this indicator is also a trend-following indicator, and Zoom confirms the trend a little late.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-Supertrend\"><\/span><strong>Weekly: Supertrend<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh5.googleusercontent.com\/ktGFmFdOcbK5xl2cXZt1eHAt73sOoQZivszTDw092cr1CyIS8aEKOsPzg0JaU-69xdjLFn54NnrNMKT9LAxMODCkuQ3ZfbefoNkgvp1SqMhiwhlZqH_duRcmRAvL1GbeeYhWzfDCJ3IqVYzCs1O7og\" width=\"643\" height=\"301\"><\/p>\n\n\n\n<p>Supertrend is a simple trend-following indicator. Since the inception of the price action, this indicator has given sizeable trending opportunities. The present price action breakout coincides with the <a href=\"https:\/\/www.tickertape.in\/blog\/supertrend-indicator-formula-and-how-to-use-it-to-identify-buy-and-sell-signals\/\">supertrend indicator<\/a>, confirming trend reversal. Perfect candidate for buy-on-dip strategy.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Daily-Price-action-with-Ichimoku\"><\/span><strong>Daily: Price action with Ichimoku<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"pasted-image.tiff\" src=\"https:\/\/lh6.googleusercontent.com\/c8NZJyWmahSG8eg-Pvc24n7H9RdQZhUOjNIuOlLwa2Wi3t3Ji-VAWoL3ubLGRGTEUDzaJdxyGwZZRMfqnWFwH8YjSZQ7ynMBZbjQZWXx5H1j_i5GQGXcgoY5q8wf9ZRETuQzpdD4_4rcylni11lQVQ\" width=\"643\" height=\"303\"><\/p>\n\n\n\n<p>Massive curve formation can be identified on the daily timeframe chart. Interestingly, volumes almost always supported the move whenever the price bounced higher. The present bounce is getting confirmed with volumes, bullish Tenkan &#8211; Kijun crossover, bullish future Kumo cloud and Chikou span in free sky. All observations confirm the short-term bullishness.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Putting-it-all-together\"><\/span><strong>Putting it all together<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Looking at price action on the weekly chart with a falling wedge breakout with multiple coinciding supports from Fibonacci levels, strong RSI, strong MACD crossover of zero line, Supertrend crossover, and the price entering Kumo cloud on the weekly chart are all confirming bullish days ahead for the counter. One can consider this from a long-term perspective and accumulate on the decline for a better risk-reward ratio.&nbsp;<\/p>\n\n\n\n<p><br><strong><em>Statutory Disclosure:<\/em><\/strong><em> Kindly note that this update is only for educational purposes. It is safe to assume that my personal position, my fund\u2019s position, my client\u2019s position and my relative\u2019s position may be open on the counter. Prefer to take the advice of your financial advisor before initiating any position.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read Kunal Rambhia\u2019s views on SW Solar &#8211; if the counter can be considered from a long-term perspective.<\/p>\n","protected":false},"author":73,"featured_media":12185,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[1770],"tags":[],"acf":[],"modified_by":"Gayathri Ravi","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2023\/03\/14-Mar-2023-SW-Solar-Counter-electrifying-well-35.png?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/12184"}],"collection":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/comments?post=12184"}],"version-history":[{"count":3,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/12184\/revisions"}],"predecessor-version":[{"id":12194,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/12184\/revisions\/12194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/12185"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=12184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=12184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=12184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}