raavigeorgian

DFM Foods 4.5yr H&S / 3.5yr C&H / 6mth DTL Breakout post results

Long
NSE:DFMFOODS   D F M FOODS
The stock is forming multiple patterns on weekly as well as daily charts , with good volume inflow. In January it staged a failed breakout, and went down forming a down trending channel of 6 months (also the Handle of the log term C&H Pattern). After yesterday's earnings result, it broke out of the channel, and followed up with great price action and even higher volume than yesterday. Looks very good in the near term.

Moving along with sector.

SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20MA on Hourly chart (on a daily close basis)


BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times.Try to buy between 3:15 - 3:30PM, later the better.

SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.

Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.

Note: I reserve the right to be wrong.

DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.


Comments

This stock is really making perfect patterns. I found this script on 24th May and was planning to enter but deferred as on 27th May the Earnings reported was expected. But later completely forgot about it. I think i have missed the momentum. What say?
+1 Reply
raavigeorgian Minhaj_AK
@Minhaj_AK, If we notice the momentum, the price has covered a 6mth decline in 2weeks. If the results are actually good, it will break out soon.
Reply
Minhaj_AK raavigeorgian
@raavigeorgian, oh yes, that's a good observation.
+1 Reply
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