A Good short term swing trade in making
The stock, National Peroxide, is listed on BSE only. Historically, it's comparatively low volume stock. But, the company has near monopoly in Hydrogen Peroxide market.
As for current swing trade set up, the stock after a fairly long downtrend, hovering in and around 1800 to 2200 range till April '20. After that it went into more concentrated consolidation in 1800 to 2300 range. After giving breakout n pullback, now it's poised to take further upmoves. Chart is self explanatory.
Keeping SL as 2200, entry at around CMP, can be considered for the targets shown by Blue Lines. Ag Target 2, Risk:Reward is 1:6 considering 2300 as average entry point.
Disclosure - For study purpose, though personal holding can be considered.
As for current swing trade set up, the stock after a fairly long downtrend, hovering in and around 1800 to 2200 range till April '20. After that it went into more concentrated consolidation in 1800 to 2300 range. After giving breakout n pullback, now it's poised to take further upmoves. Chart is self explanatory.
Keeping SL as 2200, entry at around CMP, can be considered for the targets shown by Blue Lines. Ag Target 2, Risk:Reward is 1:6 considering 2300 as average entry point.
Disclosure - For study purpose, though personal holding can be considered.
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