A_Trading_Banker

Time Technoplast: A probable Medium Term trade

Long
NSE:TIMETECHNO   TIME TECHNOPLAST
For:
-Closed above the long term support/resistance at 79.
-Promoter pledge is reducing quarter over quarter.
-Movement in the parallel channel .
-Good buying volumes.
-Targets are marked out in Purple.

Against:
-Holding period would be a couple of months.

Advise: Buy on retest of the support line or buy at the channel breakout. SL would be a weekly close below the channel and confirmation thereof. Conservative SL would be 79 on weekly CLBS .

Disclaimer: I am not SEBI registered. Personal opinion and charts that I share are for educational purpose only. Not recommendations.

Comments

Another trendline can be drawn for the last 6 weeks as of today. Even that can be used as an SL instead of using the bottom line of the channel
Reply
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