ParamjitMahapatro

jamna auto looks bullish in medium term

Long
NSE:JAMNAAUTO   JAMNA AUTO IND
In weekly, it is in strong uptrend. also it closed above upper BB with high volume and BB is expanding.

In daily, price broke out of previous peak with high volume,

fundamental wise - it is making consistent profit, positive cash flow, valuation moderate, good ROE.

with an initial sl - 54, one can ride the uptrend here.

Trade active:
hidden bullish divergence seen here
Trade active:
ascending triangle forming here,
look for breakout
Trade active:
breakout with good volume, from ascending triangle pattern, pattern tgt - 77

Trade active:
cmp - 77.15, ascending triangle pattern tgt achieved here
Trade active:
moving up as expected, cmp - 81.4
Trade active:
till now 83.15
Trade active:
till now 89.15, in weekly price at horizontal support and uptrend is still intact.
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