Tamil Nadu Newsprint- Short Term Pick

TNPL - Tamil Nadu Newsprint Limited - TNPL

Daily Chart Analysis : SHORT TERM PICK

Technical Setup : As we can see on chart in recent few days market was consolidating with sideways to bullish bias with some improvement in volumes. With todays move and volumes now it seems that market is ready to blast on upside (just a matter of time) . The first target on upside is around 250 above which 275 & 290 will unfold. Initial Stop Loss to be at 200.

Trade Setup : Enter Long Trades on break above 227 with Initial Stop loss at 200 once the market closes above 245 levels move stop loss to Breakeven and keep riding upside. Investors in such stocks need patience , self-analyze your profile before you take the trade.

Fundamental Side : There is immense demand in all disposable paper segment market due to single use plastic ban in recent time. (Dont want to elaborate much as this platform is not for fundamental analysis)

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Happy Hunting ,


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