JYOTIRES - Longertime frame trade setup for a good profit
Jyotires Monthly Candle closed on raising 10 Moving Avg. Keep in mind that 10 MA on monthly is in a super bullish trend and this trade is for long term.
Weekly Candle is near to 50 Moving Avg. Multiple times this was the support it has taken previously. VCP like pattern is in making and volatility is reducing.
Daily Candle is near 200 Moving Avg.
It looks like a perfect setup for a longer time frame 5-6 months for 50-70% gains.
If we talk about risk to reward ratio, 10-12% of stop loss is the level at current chart.
Disclaimer - Not a buy sell recommendation, it is just my view about this stock. It may not work as projected here.
Weekly Candle is near to 50 Moving Avg. Multiple times this was the support it has taken previously. VCP like pattern is in making and volatility is reducing.
Daily Candle is near 200 Moving Avg.
It looks like a perfect setup for a longer time frame 5-6 months for 50-70% gains.
If we talk about risk to reward ratio, 10-12% of stop loss is the level at current chart.
Disclaimer - Not a buy sell recommendation, it is just my view about this stock. It may not work as projected here.