ikapilmittal

BASML Flag & Pole BREAKOUT with MASSSIVE VOLUME

Long
NSE:BASML   BANNARI AMMAN SPIN
The stock observed volume of over 7% of the total outstanding shares in a single day indicating massive buying.


Bannari Amman Spinning Mills Limited, is a vertically integrated textile company engaged in the manufacture of cotton yarn, woven and knitted fabrics, finished garments, home textiles and wind power generation.
Comment: A long legged doji has been formed today meaning indecision between buyers and sellers. If the price drops below the lower wick, I'll exit the trade as it might signal a possible reversal.
Comment: Made flag pattern in 1 hour timeframe, and broke out of it
Comment: Target 1 Reached after making us wait for so long
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Comments

According to DATA on NSE. The delivery percentage stands around 43% with total trades around 8k and for the rest of the week the trades were really less. Appears to me as a risky proposition. Let's see if the volume builds up with the BO. However the fun fact is; I have my alert at the same level. Was validating my view :) Nice charting mate
+1 Reply
ikapilmittal UnknownUnicorn20630746
@UnknownUnicorn20630746, Yes that means there is sudden interest in the stock
Reply
ikapilmittal harimagesh1205
@harimagesh1205, Thankyou
Reply
This is why I told you, Such spikes in volumes mostly fail.
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