ParamjitMahapatro
Long

finolex cable looks bullish in medium term.

NSE:FINCABLES   FINOLEX CABLES
it is in a strong uptrend in monthly time frame.
in weekly, price recently bounced from uptrend channel support and horizontal support.
Also hidden bullish divergence seen in weekly.
so sl - 447, tgt1 - 551, tgt2 - 590
Trade active: till now 508.90
Trade active: it has to break the downtrend line to move up ,
Trade active: moving up as expected till now 524.9,
Trade active: till now 530.15
Trade active: 1st target done here, closed at 550.40.
Comment: bearish bat formed here in daily, and price reversed from PRZ.
So risk averse traders may book the profits, total 11% profit.
Trade closed: target reached: both the tgts are achieved here, also price is near channel resistance, total 28% gain till now

Comment: in daily, price is approaching for a squeeze,
Comment: price closed above upper BB and BB expansion happened here,

Comments

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