raavigeorgian

Excel Ind - Retest of 2yr breakout zone on good earnings

Long
NSE:EXCELINDUS   EXCEL INDUSTRIES
Great find by @monkmaxims

The stock made a 2yr Inverted Head and Shoulder Pattern on weekly chart. It gave a 9 month channel breakout on 4th May with very high vol. After 15 odd sessions, price has come back to retest its long term breakout level on very low volumes. Also co-inciding with result date, showing a good set of earnings (60% rise in YoY EPS .)

Sector on the move due to good monsoon.
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

6% up today after averaging yesterday. keep posting charts & thank u
+1 Reply
raavigeorgian ravihit957
@ravihit957, Even I added some more in the morning.
Reply
drdc11 raavigeorgian
@raavigeorgian, what is the target around,...is 1070 region another resistance for excel? also ur comment on india glycol.your views please
Reply
@drdc11, Targets on Excel: 1200, 1500, 1800 thereabouts. Have posted a chart on India Glycol. Immediate tgt 590, Can hit 1000 levels once positive price action develops above 600.
Reply
drdc11 raavigeorgian
@raavigeorgian, thank you soo much!!love your charts
+1 Reply
@drdc11, no problem.
Reply
please post chart of amber enterprises. i am looking for buying opportunity in it.@raavigeorgian
Reply
raavigeorgian ravihit957
@ravihit957, sure man, will do.
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A little surprised by the price action here today post results. they took it down to 1010 from a high of 1088 at one point and then went back up to 1017. guessing its a shakeout but holding anyway.
+1 Reply
raavigeorgian monkmaxims
@monkmaxims, I guess the sector has been quiet for a few days, BO attempts are being made but volumes are not flowing in, even Dhanuka attempted a breakout but came back down (a good sign). Looking at the intraday price action of Excel, there seems to be a buyer absorbing supply at 1010 levels. The first 15 min candle is called stopping volume / bag holding (by smart money). Hopefully the buyer is a big player. If market doesn't throw any surprises, this is almost certain to bounce back.
+1 Reply
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