Multiyear breakout on Monthly Chart |Will it give a good profit? Long

USHA MARTINNSE

Description

⋅ Jul 20, 2021 5:46 PM

NSE:USHAMART

This stock gave multiyear breakout above Rs 42 level in April 2021. And in this month it has been sustaining above 55.

If in upcoming days if it sustain to remain above 55 then it will be a good buy for short term holding.

Comments

sohamdey76

⋅ Jul 28, 2021 7:58 AM

What could the possible targets be? And please specify the time frame.

Trading_hawk

⋅ Jul 28, 2021 2:09 PM

@sohamdey76, Hi Possible target could be 70,80,90,100. It is for short term positional trade.

sohamdey76

⋅ Jul 28, 2021 2:23 PM

@Trading_hawk, Yes I was thinking the same looking at the monthly chart of Usha Martin. Plus company has posted great results. Looks good for 100 especially if the steel sector starts gaining momentum

Trading_hawk

⋅ Jul 28, 2021 2:26 PM

@sohamdey76,
Yea. all the best.

You can also check other multiyear stock breakout posted in my previous posts/ideas.