tradewithamey_

TEGA Industries looking good

Long
tradewithamey_ Updated   
NSE:TEGA   TEGA INDUSTRIES LTD
TEGA stock was bearish from the time it was listed and never had given a weekly breakout over 620.
It has given a strong weekly breakout and looks like it can test the listing price once it gives a daily closing above 650 levels.
One can have keep a watch on it. This idea is shared just for educational purposes.
Comment:
Track it today. It can fly if it closes above 650.
Trade active:
Day closing below 640 can be considered as a SL.
Comment:
695 from 650. Around 7% move in a single day. Keep trailing SL above buying cost if entered.

Weekly candle is a strong hammer at support which indicates that stock should complete the rounding bottom pattern from here.
Comment:
High made of 706.8-9% move
Market is bearish. Trailing SL hit. There is a strong support at 620 levels.
Trade closed: target reached:
900+ seen in this stock.

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