Granules long opportunity

Oct 1, 2022

GRANULES
Stock -> Granules
TimeFrame -> Weekly

Hello all!
Granules has been forming a flag and pole pattern.
It finally broke out of the flag in the last week of September with heavy volumes and I believe this generates a good opportunity to go long!

There are multiple other factors that strengthen my conviction on going long
-The stock is taking support from its 50-week EMA
-Stock has support from both 50 and 200-day EMA
-Flag breakout occurred after a strong bounceback from the Fibonacci golden zone.

The Risk to Reward ratio is also decent.

*NOT A CALL*

Disclaimer: Markets have been behaving a bit jittery. Hence it's advisable to trade with a smaller quantity than usual and maintain a strict stop loss.

#granules #nifty #technicalanalysis #swingtrading #ema #fibonacci #poleandflag #markets #trading #investing