CAMS has been in a downtrend from end of 2021. We can see on the chart that the stock is consolidating near a strong support of 2000 level.
RSI is forming higher lows which indicate strength of buyers at this level.
It looks attractive at CMP for a positional long trade for minimum target of 2300.However, a weekly closing below 2000 levels will have a sharp fall upto 1750 levels which is a major risk.
Kindly consider this idea for educational purposes and trade as per your own analysis.
RSI is forming higher lows which indicate strength of buyers at this level.
It looks attractive at CMP for a positional long trade for minimum target of 2300.However, a weekly closing below 2000 levels will have a sharp fall upto 1750 levels which is a major risk.
Kindly consider this idea for educational purposes and trade as per your own analysis.
Trade active:
2117 from 2050
Comment:
2265, approaching T1 of 2300 slowly
Trade closed: target reached:
2345 high made on 4th july
above 2350, stock can move up till 2600 positionally
above 2350, stock can move up till 2600 positionally
Comment:
2600 done finally
Reversal trades are slow but probability of targets are high.