AFZAL LOKHANDWALA

CHAMPIONS CLUB

WEEKLY MARKET
REPORT
06 November - 12 November 2023

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 Nifty 500 Index Sees Growth, But
Cautious Approach Recommended

The Nifty 500 index has shown impressive momentum,

with a 1.5% increase (equivalent to 255 points) this
week, closing at a level of 17256. The index has broken
through its crucial level of (17050-17100), and no
significant weaknesses have been noticed on a lower
timeframe. However, a closer look at individual stock
prices reveals the formation of several topping
patterns, particularly on their right sides. This suggests
that the recent upswing observed in the past few days
may be a temporary ascent within these structures,
leading to a significant decline soon. In this mixed
environment, we recommend maintaining a moderate
market stance and taking a conservative approach to
long trades by limiting total open risk. We also
encourage traders to exercise caution and manage
their current positions with discipline.
 SHARDAMOTR: Stock Performance
and Potential for New Highs

Sharda Motor Industries Ltd, a manufacturer of

automotive components and metal parts, has been
trading within a range with the resistance level of 855
since mid-December 2021. However, upon closer
examination, it is clear that the base quality has a
smooth rounding bottom structure with several Positive
Pivotal Candles that have led to volume spurts.
Moreover, the resistance level has been successfully
honored twice. In the last week of August 2023,
SHARDAMOTR finally broke out of its accumulation
structure with exceptional volume and closed above
the resistance level. There was a smooth pullback with
low volume post-breakout, which retested the same
level before bouncing back and confirming the
breakout. Currently, the stock is trading at 1100 level
and based on its price action, the setup has a high
potential to make new highs.
CARTRADE - From Decline to Growth
Stage

CarTrade Tech Ltd, a company in the auto and truck

dealership industry, was listed in mid-August 2021.
However, it has since decreased by 71% in just over six
months, reaching a low of 460. Despite this decline,
the stock began to establish a base with a resistance
level of 695. This accumulation structure consisted of a
wavy rounding bottom pattern with occasional volume
spurts, spanning 18 months. Recently, the stock broke
out of its accumulation structure with robust volume
and gained 25% in just one week, now trading at 863
level. The chart shows a clear turnaround, indicating
that the stock has entered the growth stage. The
current price action suggests that CARTRADE has high
potential to rise and provide significant returns to its
holders.
THE MEMBERS TRADE!

The members of
CTM successfully
traded #AMBER.
THE MEMBERS SPEAK!
Are you fearful while trading? Fix your maximum loss in a
trade using stop loss. This "certainty" creates a FEARLESS
trader.
-Afzal Lokhandwala

AFZAL LOKHANDWALA
CHAMPIONS CLUB
Important Links
Website: link
Telegram Channel: link
WhatsApp: link