TradingView
PrasantaP
Aug 22, 2020 3:43 AM

NIACL chart analysis waiting for breakout Long

THE NEW INDIA ASSUNSE

Description

1.#THE NEW INDIA ASSURANCE Weekly chart trading above the major resistance and now made a symmetrical triangle pattern in #Daily chart. After the symmetrical triangle breakout(above 122.5)and sustain above,we can see up move towards 160.00/170.00 level as per chart pattern with the help of 110.00 support level .
2. Till market recovery up to 35% to 40% from low but insurance sector not performed .Thats why now my bet is on insurance sector .When other stock pattern make in chart (insurance sector stock) i will update .
3.Company is virtually debt free.
4.Stock is trading at 1.11 times its book value.
Comments
venkysri08
Nice
Roopesh80
Is your view still valid now on this stock or has it changed?
PrasantaP
@Roopesh80, I said buy only above 122.5 closing.
More