nerdywasabi

Andhra Sugar - Weekly Breakout. Looking good on WoW Basis

Long
NSE:ANDHRSUGAR   ANDHRA SUGARS
#ANDHRSUGAR

Perfect candidate to ride the Soft Commodity and Sugar Rally and hence my conviction here. Numbers listed are weekly considerations

Entered at - 442
Stop Loss - 415

Target 1 – 486 ( Next coming days )
Target 2 – 592 ( 4 to 5 months )
Target 3 - 672 ( 8 to 10 months )

Some of you might not agree with the gap between SL and entry price but I am okay to let this play with my risk appetite for next coming days and next 4 to 5 months

On Daily chart is it now retesting its breakout level. If stock sustains levels of 415 on weekly closing, then its expected to move into predicted trajectory as reflected above
Volume spurt has also been noticed on WoW basis for last 4 weeks. Good sign of buyer interest in order to move towards predicted trajectory

Disclaimer -

- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring to this, please consider this ONLY FOR educational & research purposes.
- Past performance is not a guarantee for future predictions
- Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion.
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- Do your own analysis and consult your financial advisor before investing.

TIA!
Comment: Still supporting the weekly SL. I wouldn't give up on this yet. I am still holding with conviction
Trade active: 1st target done and approaching 2nd target
Trade active: 2nd target done T2. Hold for T3 with patience or if you were in this trade for swing or short position, you may exit and book profits. I am holding it for T3 target now!