#NLCINDIA .. Shaping up well for short term upmove
215
Here is my plan for this counter
Trend: Stock is in an uptrend within an upward channel. Pattern: Rounding Bottom: Formed within the upward channel. Triangle: A consolidation triangle on the right side, suggesting a potential breakout. Price Action: Near the apex of the triangle; potential for a breakout. Momentum:Bullish momentum as the price is above the Ichimoku cloud. Cloud Support: Strong support from the Ichimoku cloud beneath the price. Volumes:Increased volume along with healthy cash flow on upward moves indicates buying strength.
Levels: Entry: Near the current level or on a breakout above the triangle. Target: ₹303-305 Stop Loss: ₹255-259
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.