Get started
VISAKA INDVISAKA INDVISAKA IND

VISAKA IND

No trades
See on Supercharts
Overview Financials News
Ideas
Technicals

VISAKAIND trade ideas

Simple Price Action Analysis - LongSince August 2021 the price of NSE:VISAKAIND has only come down and created a reverse "N" like shape on the chart. This is a Bullish Pattern and should take the price up and make a Higher High. As it is a dividend-paying stock hence an investment can be made from cmp, with the first target of Rs 132.80/-, a second Target of 174.65/-, and a final target of 299.45/-. For any drawdown, the "Buy on Dips" strategy can be used and the stock should be held for long-term investment. Disclaimer: Stock trading is inherently risky and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make, including but not limited to loss of capital. None of the stock trading calls made by Prosenjit should be construed as an offer to buy or sell securities, nor advice to do so. All comments and posts made by Prosenjit are for information purposes only and under no circumstances should be used for actual trading.
NSE:VISAKAINDLong
by Prosenjit
VISAKAIND - Trendline Breakout & BATIn this analysis, we will examine the technical aspects of the weekly chart for VISAKAIND, aiming to provide insights into potential trading opportunities based on key patterns and indicators. Breakout of Weekly Falling Trendline: The chart displays a significant breakout of a weekly falling trendline. Breakouts of trendlines on higher timeframes, like the weekly chart, often carry greater significance. This breakout suggests a potential shift from a bearish to a bullish trend. Such breakouts are crucial points of interest for traders and can mark a potential reversal or continuation of the trend. RSI Confirmation: The breakout observed on the Relative Strength Index (RSI) adds further credibility to the breakout from the falling trendline. RSI is a momentum oscillator that measures the speed and magnitude of price movements. When the RSI breaks out, it often provides confirmation of the price breakout, enhancing the reliability of the bullish scenario. BAT Harmonic Pattern and Target: A possible BAT Harmonic Pattern is identified on the chart, suggesting a potential target of ₹120 in the future. Harmonic patterns are geometric price patterns that traders use to forecast potential price movements. The presence of such a pattern further supports the notion of a potential bullish move. Rounding Bottom Pattern: Additionally, a rounding bottom pattern is visible on the chart. This pattern resembles a gradual transition from a downtrend to an uptrend and can imply a potential trend reversal. Its presence reinforces the bullish narrative suggested by other technical indicators. Proposed Trade Strategy: Based on the insights from the chart analysis, here's a proposed trade strategy: Entry: Consider entering a long position at the current market price (CMP) of ₹93. This entry aligns with the breakout from the weekly falling trendline and the confirmation from the RSI breakout. Stop Loss (SL): Implement a stop loss at ₹80. This level is strategically chosen to allow for reasonable price fluctuations while providing protection against unexpected adverse movements. Target: Set the target at ₹120. This target aligns with the potential target suggested by the BAT Harmonic Pattern and also considers the rounding bottom pattern. Conclusion: While technical analysis offers valuable insights, it's essential to recognize that no analysis can guarantee specific outcomes in the stock market. Trading involves risks, and conducting thorough research, employing risk management strategies, and seeking advice from financial professionals are crucial before making any trading decisions. The breakout from the weekly falling trendline, confirmation from RSI, presence of the BAT Harmonic Pattern, and the rounding bottom pattern collectively indicate a bullish scenario for VISAKAIND. However, market conditions can change rapidly, so staying informed and adaptable is vital for successful trading.
NSE:VISAKAINDLong
by yaashul
Visaka Industries : Weekly chart analysis1. Trend : downward / sideways trend since July 2021 2. Pattern : bullish Maribozu crossing the channel pattern and the monthly supply /demand level 3. Volume breakout : highest volume in 1.5 years 4. Comments : stock to retrace to support levels and then move forward to create higher highs and higher lows 5. Entry / exit : 93.90 (previous low), entry 2 - 92, SL - 88.25, target 1 : 110, target 2 : 123 6. RRR : 5.38, expected time period : 28 % in 77 days
NSE:VISAKAINDLong
by sanjaysanthanagopal
1