Dwarikesh Sugar: Will it continue its momentum and give another +22% gain?
Post its breakout, the stock has consolidated well below Rs 100 range. This consolidation has been supported by excellent volumes too.
The past two week price action is indicative of likely strong up moves in the coming weeks ahead.
My expectation is that 119.80 should be most likely crossed in the coming 3-4 weeks. There's a fair possibility that even 141.75 may well be achieved within the next 5-6weeks.
Stocks in Stage 2 have a tendency to continue their momentum moves.
Let's see how this stock behaves ahead in the coming weeks.
Here's the Trade Plan
CMP = 98.05
Entry : At 96.60 to 98.80 range
Add on Dips: At 92 (Low Risk Entry)
Initial Stop Loss (ISL): @ 90.80
Wide SL 84.80
Potential Targets: 119.80 (+22%) 141.75 (+44%)
Note:
Breakout closing above Rs 100 needs to be supported with high volumes.
Trade Setup gets invalidated once stock starts to trade below 84.80
What have you learned from these studies and updates?
Can you see the continuation of the Momentum pattern? How will you apply and gain from it?
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COMMENT below with your questions, views and suggestions !!!
Post its breakout, the stock has consolidated well below Rs 100 range. This consolidation has been supported by excellent volumes too.
The past two week price action is indicative of likely strong up moves in the coming weeks ahead.
My expectation is that 119.80 should be most likely crossed in the coming 3-4 weeks. There's a fair possibility that even 141.75 may well be achieved within the next 5-6weeks.
Stocks in Stage 2 have a tendency to continue their momentum moves.
Let's see how this stock behaves ahead in the coming weeks.
Here's the Trade Plan
CMP = 98.05
Entry : At 96.60 to 98.80 range
Add on Dips: At 92 (Low Risk Entry)
Initial Stop Loss (ISL): @ 90.80
Wide SL 84.80
Potential Targets: 119.80 (+22%) 141.75 (+44%)
Note:
Breakout closing above Rs 100 needs to be supported with high volumes.
Trade Setup gets invalidated once stock starts to trade below 84.80
What have you learned from these studies and updates?
Can you see the continuation of the Momentum pattern? How will you apply and gain from it?
Thank you for checking out my content.
If you like it and gain from it;
FOLLOW for more !!!
LIKE & SHARE if you found the idea useful !!!!
COMMENT below with your questions, views and suggestions !!!
