Chart is pretty clear and straight here. A simple Inverted Head and Shoulder formation can be seen on the weekly charts of Excel Industries. Further, a good breakout is seen with good volumes and sustainability above the resistance point. In addition, a perfect retrace is seen and buying pressure can be seen in the last candle. The last candle tested the 'resistance turned support' level and from there buying pressure is seen!! Moreover, a breakout and retrace is visible from the recent consolidation. (OPEN THE CHART FOR DETAILED VIEW).
LEVELS
ENTRY: CMP (1082)
Target 1: 1275 (Book 25%)
Target 2: 1442 (Book another 25%)
Target 3: 1605 (Book another 25%)
Target 4: 1755-1760 (Book full profits)
STOP LOSS: 960
*TRAIL STOP LOSS*
MACD bullish
Volumes check
RSI a bit high but shows momentum
Risk-Reward ratio FAVORABLE
I would recommend a long swing trade on EXCEL INDS
Thanks
FOLLOW IF YOU LIKE THE ANALYSIS...
LEVELS
ENTRY: CMP (1082)
Target 1: 1275 (Book 25%)
Target 2: 1442 (Book another 25%)
Target 3: 1605 (Book another 25%)
Target 4: 1755-1760 (Book full profits)
STOP LOSS: 960
*TRAIL STOP LOSS*
MACD bullish
Volumes check
RSI a bit high but shows momentum
Risk-Reward ratio FAVORABLE
I would recommend a long swing trade on EXCEL INDS
Thanks
FOLLOW IF YOU LIKE THE ANALYSIS...