AUTOAXLES - Weekly Chart

Aug 23, 2022

• 2018 High Crossed in 2022 - 4 years high crossed (Breakout)
  
• Look at the volume bars during and before the breakout, volumes on up days are high
  
• Giving a good entry point now, since the stock is retesting the weekly breakout
  
• On the Daily chart the stock is taking support at SuperTrend[10,3] location
  
• Entry at CMP looks great, stop-loss could be ST[10,3] or Rs 1775 previous swing low on daily chart
  
• Stop loss comes to less than 7%
  
• Promoter Holding > 70%
  
• Stock belongs to one of the strongest sectors [Auto ancillaries]
  
• Stock is volatile, keep that in mind
  

Sep 3, 2022

Note

So far the stock is doing decent, not flying like other mid/small cap stocks but after some consolidation it should do well.

Disc:- Invested