10 MONTHS WEEKLY CONSOLIDATION BROKEN
Why Bullish ?
Reasons :
1 . As Shown In The Link Shared - 10 Months Consolidation In A Certain Pattern Has Been Broken With Marubozu Candle.
2 . At The Same Time Rsi Pattern Has Also Been Broken - Giving Confirmation For The Strength Of This Trendy Marubozu Candle.
3 . A Week Older Positive News -(( Crompton Greaves Consumer Electricals (Crompton, Bom:539876) Raised 3.25 Billion Indian Rupees ($41 Million) Through The Issuance Of Bonds On A Private Placement Basis, According To A Tuesday Filing.))
4 . Last But Not The Least - Stock Market And Global Market Sentiment Has Gone Bullish At The Same Time - Which Is Backing The Overall Story.
Best entry might generate after the retest at around 370.
Retest is done as said in previous analysis - kindly have a look at previous analysis - in.tradingview.com/chart/CROMPTON/VTt7py7J-10-MONTHS-WEEKLY-CONSOLIDATION-BROKEN/
Exit Positions Have Been Marked But Most Probabily It Will Hit All Time High Atleast - After This Long Consolidation.
Kindly Comment If Anyone Found This Information Helpful Or Anyone Who Takes Position After Reading This Article.
Thankyou.
Reasons :
1 . As Shown In The Link Shared - 10 Months Consolidation In A Certain Pattern Has Been Broken With Marubozu Candle.
2 . At The Same Time Rsi Pattern Has Also Been Broken - Giving Confirmation For The Strength Of This Trendy Marubozu Candle.
3 . A Week Older Positive News -(( Crompton Greaves Consumer Electricals (Crompton, Bom:539876) Raised 3.25 Billion Indian Rupees ($41 Million) Through The Issuance Of Bonds On A Private Placement Basis, According To A Tuesday Filing.))
4 . Last But Not The Least - Stock Market And Global Market Sentiment Has Gone Bullish At The Same Time - Which Is Backing The Overall Story.
Best entry might generate after the retest at around 370.
Retest is done as said in previous analysis - kindly have a look at previous analysis - in.tradingview.com/chart/CROMPTON/VTt7py7J-10-MONTHS-WEEKLY-CONSOLIDATION-BROKEN/
Exit Positions Have Been Marked But Most Probabily It Will Hit All Time High Atleast - After This Long Consolidation.
Kindly Comment If Anyone Found This Information Helpful Or Anyone Who Takes Position After Reading This Article.
Thankyou.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.