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Breakout-Ideas
Jun 27, 2023 6:09 PM

Trendline resistance breakout Long

RANE(MADRAS)LTDNSE

Description

Please look into the chart for a detailed understanding.

Consider these for short-term & swing trades with 2% profit.

For BTST trades consider booking

target for 1% - 2%

For long-term trades look out for resistance drawn above closing.

Please consider these ideas for educational purpose

Trade closed: target reached

6% Target Reached
Comments
mayankbarot863
What is the 1or 2 years target i am already holding from 480 levels I can hold for next 2 years also advise stop loss
Breakout-Ideas
@mayankbarot863, According to technical levels, I feel 650-660 could be a good support for this stock. Recently, it took support there and started it's uptrend again. As you were thinking to hold for next 2 years, I suggest you to wait until it falls to 590 level. If the stocks breaks this support, then please think to sell because that may trigger stock towards downside in my point of view... Fundamentally, this stocks looks good with good results... Weak results may also trigger this stock downwards. If the stock moves downside due to weak results, please think of for exit.

please consider my idea as an advice and take your individual decision. thanks....
mayankbarot863
Thanks a lot Dear for time and valuable advise God bless you with lots of happiness and success in your life
Breakout-Ideas
@mayankbarot863, You are most welcome.. feel free to comment out on my ideas, if you have any questions.
mayankbarot863
Sure, but you don't have resistance and upper level target for next 1 to 2 years time frame
Breakout-Ideas
@mayankbarot863, 868, 922, 1000 are the next target levels according to my opinion
mayankbarot863
Ok Sir 👍
mayankbarot863
Today dramatics hits 20%lower circuit so can I add this toommrow it's fundamentally sound comapany
Breakout-Ideas
@mayankbarot863 i feel, you want to be a safer side, I think you should wait... coming to fundamental point, stock was delivering good performance comparing on quarter on quarter basis.... because of that stock had rallied nealry 110% in few months...i strongly feel, this might not be a profit booking...but no news was out till now...coming to technical levels.... 540 is support 1, .... 444 is next range of support you can look at... but my final conclusion is... don't hurry, just patiencely wait.... and observe..... if it falls further... you can try taking this at good support levels...
mayankbarot863
Thanks dear but it seems tommrow it's self it will bounce and we can never get a chance to add below 540 levels
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