Hello Trading community, mates and friends sharing today a bullish breakout on Monthly time frame for Samvardhana motherson a Great Auto ancillary company so as we can see on provided chart that share price of company breaks a rock strong 6.5 years old resistance and succeeded to gives a monthly candle close above that resistance and opned a new space for price where it can travel like a rocket in coming time and i assume that price can do a more 50% rally from breakout point, This 50% upside target i identified from the previous all time high to new all time high difference and i feels like that price again will do this and will repeat the history again. Below 125 levels a weekly close seems a good support for this trading idea after getting the best entry mentioned on published chart.
I hope you will like and work and give your valuable support to my publication too, Any other questions are most welcome in comment box. Thanks for reading mates.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
I hope you will like and work and give your valuable support to my publication too, Any other questions are most welcome in comment box. Thanks for reading mates.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
Comment:
Price retested it's breakout zone exactly sharing daily chart for better view now let's see it will sustain above or not because a massive selloff seems today in entire market
Comment:
Hello mates so as we saw a perfect retest yesterday and count this as a support bounce confirmation by price and now reached 149 from 135 levels so this the retest entry gained 10% in this trade position so far, and i assume this support bounce will give more strength to price further on the top 159 levels the recent swing high is very placed as a resistance let's see that will break or not after this bounce and price will move in to targeted direction on not
Comment:
Hi friends sharing an update regarding a recent swing high breakout, So as we can see that price made a swing high after published idea and did a breakout retest as per mentioned in idea and now breaking that swing high and reached 162 from 135 so i gained 20% from this trade position so far and now i am taking half of my position gains here, for rest position i will trail stop loss to cost mates. Thanks for reading and supporting this idea
Comment:
Hi friends sharing an update here after many days as we can see that trade going very good in wanted direction reached 189 from retest levels (135) and so far gained 40% by this trade position for remaining quantity as i booked half quantity updated above too so now i am taking more half quantity gains from remaining shares as gains are fantastic in less time and the important thing is price is very close from final target and away only 9% from current price for remaing portion will move stop loss on cost as a discipline trader and will wait for the final marked target in idea. Thanks for reading and supporting my publication please consider this as a second last update next i will do a update on final target, Cheers !!