DSKF16

SUTLEJTEX: hARMONIC Bullish BUTTERFLY

Long
NSE:SUTLEJTEX   SUTLEJ TEXTILES
All mentioned & plotted on Chart.
Notice "Crucial Supply Zone", "Extended SUPPLY Zone", "PRZ"

Education Purpose only.
For trade decision consult with Financial advisor.

Comments

What does PRZ @ 66.60 mean? Post result stock closed at 65. Where to from here? Worth buy now or wait?
Reply
DSKF16 rubixqube
@rubixqube, PRZ means Potential Reversal Zone. In Last Trading Session Closed Below "PRZ" with Very HIGH Volume (i.e more than 4X - 5X, Not calculated perfectly)
Better to Wait, Enter after some correction & Result is Good.
Reply
@DSKF16, Thanks buddy for the response. The BV is 56. How low do you think this could go? What would be a good entry point ?
Reply
DSKF16 rubixqube
@rubixqube, Not Studied Result. If Result In-Line then SUP Zone #1 for Long. If Result is Poor Wait for near SUP Zone #2.

Reply
@DSKF16, Result was a howler. 70% drop in profit YoY. Margins are under huge pressure because of high raw material, gst, demon and lack of export incentive. 55 quite possible. But I think the worst might be behind all the textiles and the rural demand and monsoon cheer along with weak rupee might start turning things around. But I think some fishy business is going on. Can you have a look at the accumulation and distribution pattern, I am not very well versed with it. Thanks.
Reply
@DSKF16, At support zone 1 already at 59.
Reply
DSKF16 rubixqube
@rubixqube, Dipped with Volume. Follow Support Line (Dashed Line) if wish to enter. Think 49 - 50 shotly.
Reply
@DSKF16, thnx
Reply
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