The Daawat Party is about to start, are you coming?
Price has been going up and down in a box like area for more than a year and has just broken out for the second time ..this needs to sustain first, maybe we shall see some consolidation and then it has to breach 110 where it would have crossed its ATH post which the fib levels come to play. The 1.272 fib level is Rs. 136.4 and 1.618 fib level is Rs. 169.95...The price is also travelling in a parallel channel in the weekly timeframe... It is an FMCG company primarily dealing in rice and rice based products, more than 35% of its sales are to USA as per the last company presentation...
If I am buying this I will keep stop loss at price closing below 97.80
If I am buying this I will keep stop loss at price closing below 97.80
Trade closed: stop reached
Black swan event has made stop loss get hit.. rumor that big brother will stop/halt/ban/reduce rice exports leading to crash in both the leading listed rice exporting peers
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.