{"id":7987,"date":"2022-03-29T15:09:21","date_gmt":"2022-03-29T09:39:21","guid":{"rendered":"https:\/\/www.tickertape.in\/blog\/?p=7987"},"modified":"2022-03-29T15:09:22","modified_gmt":"2022-03-29T09:39:22","slug":"delta-corp-kunal-rambhia","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/blog\/delta-corp-kunal-rambhia\/","title":{"rendered":"Delta Corp: Will Unlocking Theme Shower Coins on Casino And Reward Investors?"},"content":{"rendered":"\n<p><em>This article is authored by Kunal Rambhia, a fund manager at The Streets, a private fund. He has been in the <a href=\"https:\/\/www.tickertape.in\/blog\/what-is-equity\/\">equity<\/a> market since 2010, performing various roles such as Associate Research Analyst, Research Analyst, and Associate <a href=\"https:\/\/www.tickertape.in\/blog\/portfolio-manager\/\">Portfolio Manager<\/a>. He has media appearances with CNBC and ET NOW. Kunal is also a visiting faculty in multiple colleges.<\/em><\/p>\n\n\n\n<p>Hello friends, unlocking theme is the talk of the town and picking up momentum in the market. Herein I share my <a href=\"https:\/\/www.tickertape.in\/blog\/icici-pru-kunal-analysis\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">technical views<\/a> on the counter &#8211; <a href=\"https:\/\/www.tickertape.in\/stocks\/delta-corp-DELT?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\" target=\"_blank\" rel=\"noreferrer noopener\">Delta Corp.<\/a>, which is in the gaming and casino business and certainly hot in the market. Kindly note that the charts used for write up are higher timeframe charts, and the technical view shared is positional.\u00a0<\/p>\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\/delta-corp-kunal-rambhia\/#Monthly-chart-time-cycle\" title=\"Monthly chart: time cycle\">Monthly chart: time cycle<\/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\/delta-corp-kunal-rambhia\/#Weekly-chart-price-formations\" title=\"Weekly chart: price formations\">Weekly chart: price formations<\/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\/delta-corp-kunal-rambhia\/#Weekly-chart-RSI\" title=\"Weekly chart: RSI\">Weekly chart: RSI<\/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\/delta-corp-kunal-rambhia\/#Weekly-chart-Ichimoku\" title=\"Weekly chart: Ichimoku\">Weekly chart: Ichimoku<\/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\/delta-corp-kunal-rambhia\/#Weekly-chart-Heikin-Ashi\" title=\"Weekly chart: Heikin Ashi\">Weekly chart: Heikin Ashi<\/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\/delta-corp-kunal-rambhia\/#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=\"Monthly-chart-time-cycle\"><\/span><strong>Monthly chart: time cycle<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/GaWWi2AdWnH1PmwHwNkhcP5EcJBR0Yco8Uz0DP5gTfT4_WfSt2UgQ_RyjlQbsyGQMEvXMb9SV0dzpqh0-Bg1Zy5wJkcN8B2mk96-E_2RAFUZ9PrW5gwOSu2UD5ejW0FTh2NDaOL7\" style=\"width: 200000px;\"><\/p>\n\n\n\n<p>Since its inception, the stock has been well respecting the 24-period cycle on monthly charts (every period is of the month). That doesn\u2019t mean that trend changes after 24 periods. But the cycle seems of 24 periods. In earlier years, the stock remained in a sideways consolidation, but the breakout came exactly at the end of the 24-period cycle. The ongoing month is the 24th month of the cycle. Looking at historical data, it is likely that stock may enter a new cycle of 24 periods from next month.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-price-formations\"><\/span><strong>Weekly chart: price formations<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/lTc295xhosaGYnIQph2J1EXSb-2FAi7WQdrEX9FGQafn9j07r8s_lvPGjjjtaRAcCg53cUA1AS8oTk2lTY1pKsn2oIiM5SprGh4lm-vN5PJEq4jlEGmzRRFpUEmHtz4wzZf32OH-\" style=\"width: 200000px;\"><\/p>\n\n\n\n<p>Multiple observations on weekly price action are seen.&nbsp;<\/p>\n\n\n\n<p>The first observation is the cycle of price action. Right from the low of May 2020 to the top of Sept 2021, the <a href=\"https:\/\/www.tickertape.in\/blog\/trend-trading\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">uptrend<\/a> had 72 bars. Since then, the price went in sideways consolidation, which lasted for 24 bars. The relation between these cycles turned up 1\/3.\u00a0<\/p>\n\n\n\n<p>The second observation is the white trendline which is made from the extreme lows. Price has just perfectly respected the same trendline, even when it remained in sideways consolidation. The most recent bounce also started from the same trendline support.&nbsp;<\/p>\n\n\n\n<p>The third observation is on chart formations. Price continued uptrend and then entered sideways consolidation, forming flag formation. The last candle confirms the breakout of the same, opening the doors for the new rally.\u00a0<\/p>\n\n\n\n<p>The fourth observation is on the volume front. Before entering sideways consolidation, there were aggressive volumes observed on the chart. Sizeable volumes were observed a couple of times within consolidation. The final breakout of sideways consolidation came with the highest volume.&nbsp;<\/p>\n\n\n\n<p>All observations support a bullish view on the counter.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-RSI\"><\/span><strong>Weekly chart: RSI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/cbTwlVBRcYD9mDEcEXdzIQ74oBLx1lRLls26Tm6hy0Z4gCdwRfduA5kyhWzQKOIUi5exZ-FKgzpXZUfKR7xF5ZeULxt7-hOlK6l50vHAe4KeWuE7Kq_YNcD_1kV438Yax9e7QOsu\" style=\"width: 200000px;\"><\/p>\n\n\n\n<p>During this entire uptrend, <a href=\"https:\/\/www.tickertape.in\/blog\/relative-strength-index\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">RSI<\/a> clearly remained above the 50 zone. The most recent bounce on price action came right from 50 levels itself (highlighted on the chart). The breakout candle also preceded RSI being at 50 and bouncing from there itself, confirming a strong uptrend.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-Ichimoku\"><\/span><strong>Weekly chart: Ichimoku<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/ufr0l0hyXGWBhDbi-YCB6PeUn0vcDkx1NH4rtCMjgSyqzQoyz8h2YR1zVhaCaUfyWFgYMpWitxHhaKn3Sd5Xt6EQaO4E8FTXX3bVF6J45crcVZEan939zIkwbLfupqcPevpFto6K\" style=\"width: 200000px;\"><\/p>\n\n\n\n<p>The best expected set up on <a href=\"https:\/\/www.tickertape.in\/blog\/ichimoku-cloud\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">Ichimoku<\/a> is seen on the chart, where Senkou Span A, Senkou Span B, Tenkan Sen, Kijun Sen and Chikou Span all are inching higher with positive cloud and Tenkan \u2013 Kijun crossover (certainly expected based on the previous view). This is a dream set up for any Ichimoku lover to pick up the counter \ud83d\ude42<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Weekly-chart-Heikin-Ashi\"><\/span><strong>Weekly chart: Heikin Ashi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/7x6KQiWuBtafTLUZ2v93ZJXFVDJWsV_LCLyc1mdkP6M8K8CVNCWKeReJTgdZ5w9bJDlh1tKMjpGZFx518uJ9l_LwOJ0znjiJCfMK96bUnbnD_8Morjsv0gunqfmH4-Mq64PM0-au\" style=\"width: 200000px;\"><\/p>\n\n\n\n<p>Heikin Ashi is a Japanese trend following technique. It\u2019s a subject in itself, but briefly, the strength of the counter is confirmed based on the candle colour and shadow in the same direction of the move. The trend is considered to be \u201cset\u201d based on 2 candles of the same style, which are the last 2 candles on this technical set up. Hence, there is a bright possibility of trend continuation.&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 cycle on a monthly chart since inception, trend continuation on the weekly chart with flag formation breakout in the last candle with volume support, with RSI bouncing from 50 zone, magical set up on Ichimoku indicator and trend continuation confirmation on Heikin Ashi chart are confirming <a href=\"https:\/\/www.tickertape.in\/blog\/bull-market\/?utm_source=blog&amp;utm_medium=gart&amp;utm_campaign=kunram\">bullishness<\/a> on the counter is likely to emerge. As charts are higher time ones (Monthly and weekly), one needs to have a positional approach on the counter.\u00a0<\/p>\n\n\n\n<p><em>Statutory Disclosure: 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 at the counter. Prefer to take the advice of your financial advisor before <\/em>initiating any position.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Street&#8217;s, Kunal Rambhia, does technical analysis of Delta Corp. The charts are confirming bullishness on the counter is likely to emerge.<\/p>\n","protected":false},"author":73,"featured_media":7992,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[9,1742],"tags":[1565,1459,44,297],"acf":[],"modified_by":"Ayushi Mishra","jetpack_featured_media_url":"https:\/\/www.tickertape.in\/blog\/wp-content\/uploads\/2022\/03\/TT-29-March-Kunal-Delta-Corp-BB-02.jpg?wsr","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7987"}],"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=7987"}],"version-history":[{"count":1,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7987\/revisions"}],"predecessor-version":[{"id":7988,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/posts\/7987\/revisions\/7988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media\/7992"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/media?parent=7987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/categories?post=7987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/blog\/wp-json\/wp\/v2\/tags?post=7987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}