ALOK INDUSTRIES on daily timeframe chart last 2 trading sessions seen strong bullish breakout. potential upside can be around 25-30% from current level cmp 24.95
TECHNICAL INDICATORS . 1. Bullish Breakout from trendline 2. Stock made double bottom formation around 20-21 level before breakout . 3. stock has 200 SMA support when its breakout Which indicate strong upside movement .
BUY ALOK INDUSTRIES @ 24-25
TARGET 1 -28, TARGET 2 - 32
STOP LOSS 19.50
WISH U HAPPY TRADING. !!
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PLEASE do own study and analysis and take call at own risk !
Trade active
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BUY signal around 24.50-24.75 today
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previous rally 25 to 27.50 ...Profit book at 27.50 around 10 % . again stock come back to 25 level ...BUY position can taken again at 24.50-25 , 200 SMA at support and 60 % Fibonacci retrenchment also comes at 24.50-25
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Deliverable QTY V/S traded qty NSE as one 17-12-2021 closing is 56.78% shows big delivery position are taken in this stock .
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stock at sufficient correction due to omicron fear, it will made bottom around 22-22.50 where strong support on yearly, monthly and weekly chart . ! looking at deliverable qty last two days, 65%, 56%. apx . buy on deep will be profitable stretegy for ALOK Ind from this price. !
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Bullish Alert : weekly breakout candle seen on weekly chart of ALOK IND. from 26.50 level stock can jump to 28-30-32 in few session. !!
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TARGET 1 -28 hit as on 10/01/2022 happy trading.!!