Munchkunster

#VGUARD .. Watch for bounce back from support

Long
NSE:VGUARD   V-GUARD INDUSTRIES
VGUARD is a fundamentally strong company. It has come out of a 4 year long consolidation in range and has given a breakout with retesting completed.

Currently the price lacks momentum however, current structure is very bullish and can easily resume moving upwards during next week.

VGUARD has almost 2X twice after giving similar breakouts. See below -

Comments

It is falling too much...What do you think?
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Munchkunster Taurus333
@Taurus333, yes it has sir.. all midcap and smallcaps fell during past week.. I was watching the stock but as there was never a bullish confirmation so I never went in the trade.
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Taurus333 Munchkunster
@Munchkunster, I have bought at 264. I can only do waiting now. I thought it did a breakout.
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Munchkunster Taurus333
@Taurus333, it never bounced ..there was no entry confirmation after retest (buy only on bullish bounce with volumes) ..
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Taurus333 Munchkunster
@Munchkunster, Yes...I thought of holding it for long term looking at the company too. But I think I should stick with charts. I am still learning.
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Munchkunster Taurus333
@Taurus333, yea charts are objective.. i found it too difficult to get a long term perspective based on fundamentals without any experience in the market..
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Taurus333 Munchkunster
@Munchkunster, Experience is the key! Thanks heaps for your replies; will follow you!
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Munchkunster Taurus333
@Taurus333, the next support is around 218..price may first fall to those levels before starting to move up ..
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Taurus333 Munchkunster
@Munchkunster, I dont want to sell in loss. I can only hold. Thanks!
+1 Reply