SHIPPING CP INDIA-2- Stay Long- Accumulate
Updated
SHIPPING CORPORATION OF INDIA; CMP: 205.85; RSI:40.20
Recent correction into the market, because of uncertain environment at home, has given good opportunity for new investor to take a position in the script. The script is in sideways flat consolidation with ABCD correction pattern. Soon the script will be out from the consolidation zone. Its good time to accumulate the script, between Rs: 188 to 210 zone; stop loss: 167. Upside breakout will be confirmed once script closes above 238.5.
Near Term Target 1: 280; (1 months’ time frame); Medium Term Traget 2 : 330-351 (4 months’ time frame)
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Recent correction into the market, because of uncertain environment at home, has given good opportunity for new investor to take a position in the script. The script is in sideways flat consolidation with ABCD correction pattern. Soon the script will be out from the consolidation zone. Its good time to accumulate the script, between Rs: 188 to 210 zone; stop loss: 167. Upside breakout will be confirmed once script closes above 238.5.
Near Term Target 1: 280; (1 months’ time frame); Medium Term Traget 2 : 330-351 (4 months’ time frame)
✅Like & boost the idea and follow to never miss a new idea!✅
Trade closed: target reached
SHIPPING CORPORATION OF INDIA; CMP: 345.65; As predicated on may 12th 2024; SCI has give a breakout in last 2 days and conquered the target 2 was achieved well within the stipulated timeframe. I am closing this thread and soon come up with, chart analysis based on the current data points.
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