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ParamjitMahapatro

finolex cable looks bullish in medium term.

Long
FINOLEX CABLES (NSE:FINCABLES)  
ParamjitMahapatro Updated   
NSE:FINCABLES   FINOLEX CABLES
Support and Resistance uptrend Ascending Channel Bullish Patterns Bullish Divergence trendcontinuation
10
0
supportandresistance uptrend ascendingchannel bullish bullishdivergence trendcontinuation
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.
snapshot

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 ,
snapshot
Trade active:
moving up as expected till now 524.9,
snapshot
Trade active:
till now 530.15
Trade active:
1st target done here, closed at 550.40.
snapshot
Comment:
bearish bat formed here in daily, and price reversed from PRZ.
snapshot

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

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