Triveni Engineering and Industries Ltd is an Integrated and diversified conglomerate in the areas of sugar, ethanol, and engineering.
The Stock has given a successful breakout of Flag and pole pattern, falling wedge, and a consolidation of six months.
You can make an entry with R:R :: 1:2.
I am expecting Triveni to go bullish.
Reason:
Verdict: Strong Bullish
Plan of action:
BUY: 350
Stoploss: 327
Target: 400
Trailing SL: 10 or VWAP or logical
The Stock has given a successful breakout of Flag and pole pattern, falling wedge, and a consolidation of six months.
You can make an entry with R:R :: 1:2.
I am expecting Triveni to go bullish.
Reason:
- Bullish Flag and POLE breakout to the upside.
- Taking support at the VWAP indicates a good sign to enter.
- RSI crossing 60 to upside shows good bullishness.
- Successful breakout after six months.
- High volume is traded on the last day, which shows a lot of interest in stock buying.
- Price > EMAs show bulls are more powerful than bears. We can make an entry.
- Taking successful support at 200 EMA with good buying interest(volume spike).
Verdict: Strong Bullish
Plan of action:
BUY: 350
Stoploss: 327
Target: 400
Trailing SL: 10 or VWAP or logical
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.