Tilak Nagar Industries Ltd (TI): Double Bottom Patten

Nov 30, 2022

TI is showing bullish price actions:

Technical Reasons:

• A double bottom W patten is created
  
• Tried to see if it's a Harmonic XABCD patten, not fully complying with this
  
• Volume is going up,
  
• Current trend is uptrend
  
• Strong Momentum: Price above short-, medium- and long-term moving averages
  

Fundamental Reasons:
1. FII / FPI or Institutions increasing their shareholding
2. Negative to Positive growth in Sales and Profit with Strong Price momentum
3. Highest Recovery from 52 Week Low
4. High volume
5. Consistent Highest Return Stocks over Five Years - Nifty500

Trade: Buy above 110, SL: 106, T: 114/117
Sell below: 104, SL: 107, T: 100/97