BestAgro has formed rounding bottom in weekly chart and closed above weekly supply. Last week it has tested the same level and formed hammer on weekly chart. On daily chart, rise in volume is observed along with rise in price which is again a bullish signal. Also, a cup and handle pattern is observed in daily chart. Though I don't trade chart patterns, it is another point adding some value to overall analysis. In summary, BestAgro is looking good for swing and positional trading.
Agressive traders can buy it at CMP and safe trader can buy above the safe entry line when weekly candle close above it. SL will be below 1000.
Happy trading :)
Agressive traders can buy it at CMP and safe trader can buy above the safe entry line when weekly candle close above it. SL will be below 1000.
Happy trading :)
Comment:
Yesterday I shared the stock analysis and today it rose more than 6%. Though it has not closed above the safe entry level, the price and volume data are good enough and looking good for more upside.
Trade closed: target reached:
As per the given entry, the stock has given more than 8% of returns within a week and closed near the first target. One can trail for the next targets by keeping SL CTC.