Hello Trader,
Came across a stock from the textile space that is looking good on both technical and fundamentals levels.
Technically it has formed a head and shoulder on daily with a pullback or a probable flag and pattern, it has also corrected well and seems like a good time to trade
CMP: 200
Target 1: 216 (R:R - 1:1)
Target 2: 232 (R:R - 1:2)
Stop Loss: 184
R:R - Risk to Reward Ratio
On weekly we can also see it forming a Higher high and Higher low
Fundamentally on the intrinsic value front it is undervalued and has great potential has a long term investment as well
Came across a stock from the textile space that is looking good on both technical and fundamentals levels.
Technically it has formed a head and shoulder on daily with a pullback or a probable flag and pattern, it has also corrected well and seems like a good time to trade
CMP: 200
Target 1: 216 (R:R - 1:1)
Target 2: 232 (R:R - 1:2)
Stop Loss: 184
R:R - Risk to Reward Ratio
On weekly we can also see it forming a Higher high and Higher low
Fundamentally on the intrinsic value front it is undervalued and has great potential has a long term investment as well
Comment:
This happened very quick, Target 1: Hit