JBM Auto Ltd. is an interesting stock with following
1. RSI on all time frames DWM above 60
2. Narrowing Bollinger Bands on Daily/ Weekly Chart
3. Price moving on upper Bollinger band on daily chart
4. Rising trade and delivery volume on daily and weekly charts
5. ABCD pattern on weekly chart
6. Major Support at 20 SMA Daily and Weekly at 1900-1870 levels
7. 50 DMA support at 1854 levels. so cluster of supports in 1850-1900 zone
can be a good risk reward with buy on dips and dips only with Stop loss below cluster of support zone 1850-1900 levels and next resistance at 2440 once price crosses above 2055 levels.
Lets see how it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames DWM above 60
2. Narrowing Bollinger Bands on Daily/ Weekly Chart
3. Price moving on upper Bollinger band on daily chart
4. Rising trade and delivery volume on daily and weekly charts
5. ABCD pattern on weekly chart
6. Major Support at 20 SMA Daily and Weekly at 1900-1870 levels
7. 50 DMA support at 1854 levels. so cluster of supports in 1850-1900 zone
can be a good risk reward with buy on dips and dips only with Stop loss below cluster of support zone 1850-1900 levels and next resistance at 2440 once price crosses above 2055 levels.
Lets see how it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.