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Navigating the Stock Market: Technical Analysis of LATENTVIEW Stock


ANALYSIS DATE: 13-12-2023

In this blog, I bring you a detailed breakdown of a stock I've recently traded or analyzed which is LatentView, a stock that caught our attention on November 19th.


Analyzing the LATENTVIEW Stock:

The LATENTVIEW trade spanned over eight weeks, presenting a moderate level of risk. Despite not being a quick money venture, the stock yielded an impressive 18.33% profit in just 26 days. Let's delve into the technical analysis that guided this success.


Chart Analysis:

On my trading screen, I shared insights into LATENTVIEW's journey from entry at 410 to a profitable exit triggered by a trailing stop loss at 486 on December 5th. The visual representation aids in understanding the dynamics of the trade.


Daily Time Frame chart with marking where entry and exit is done

Fig 1: Daily chart of LATENTVIEW with marking of entry and exit showing swing trading setup's performance


The Technical Analysis Framework:

The key of our success lies in a meticulous analysis, starting from the highest timeframe. The weekly timeframe revealed a promising rounding bottom pattern, signaling the beginning of a strong uptrend. Rather than entering immediately after the double bottom breakout, I patiently waited for a correction, taking note of the volume trends.


Volume Profile:

Analyzing the volume profile on both weekly and daily timeframes provided crucial insights. The volume uptrend during price increases and the subsequent decline during corrections signaled a healthy market participation. This strategic observation allowed us to time our entry more effectively (refer to fig 1)


RSI Analysis:

The Relative Strength Index (RSI) played a pivotal role in our decision-making process. The positive range shift on the daily timeframe indicated a strengthening momentum, supported by the fact that the RSI consistently held above the 40 level. RSI divergence on lower timeframes further validated our bullish stance.(fig 1)


Multi-Timeframe Confirmation:

To ensure accuracy, we ventured into lower timeframes – 75 minutes and 15 minutes – seeking confirmation. The positive RSI divergence on the 75-minute timeframe aligned with our overall analysis, offering a green light for entry. Going even lower to the 15-minute timeframe, we observed a compelling RSI divergence, solidifying our conviction making our investment case stronger.


Waiting Game:

One of the key lessons here is the art of patience. Between identifying the stock's positive trend and recommending it to members, there was a waiting period of 61 days. This period allowed for a thorough confirmation of the trend's strength and minimized the risk of entering prematurely.


What's Next for LatentView:

As of now, LatentView remains an attractive prospect, with the last rally supported by strong volumes. While awaiting a more stable market condition, we keep a vigilant eye on LatentView, ready to guide our members when the time is right for a fresh entry.


Interactive Analysis and Viewer Questions:

In my live webinar, I also interacted with viewers, where I provided on-the-spot analysis for specific stock requests. Covering a diverse range of stocks—from NSE: PATANJALI, CESC, ASHOKLEY, PFC, and ITC—the discussion delved into entry and exit points, market outlook, and technical nuances.



Conclusion:

The success of the LatentView trade exemplifies the power of combining technical indicators across multiple timeframes. Patience, meticulous analysis, and a deep understanding of market dynamics are the keys to unlocking profitable opportunities in the ever-evolving world of trading.



Join the systematic approach of the Trade Together program to enhance your trading journey, real-time updates and trade recommendations. It provides detailed insights, including stop-loss and target recommendations, along with optimal capital allocation strategies.


Join me on Telegram and stay connected : https://t.me/tradewithkavita 

Watch my detail technical analysis on LATENTVIEW on youtube by clicking on the link given below:


Thank you for reading!


-Kavita Agrawal CMT CFA

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