Cmp : 65.40
Entry : Near Cmp 65.40
Target : 7%+ Always
Stop Loss: According to one's Risk Reward ratio
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ABAN OFFSHORE LONG
It was best stock in 2007 with a price of 4700 rs. but now it is not. it is only used to swing trade at your own risk.
it is show good momentum and there is a loop hole also to further 10-15% move as per price trade action theory.
You can see this change in 2-3 days if market is in positive move,
What is your views please...
ABAN offshore is coming out from a two year bottom in the form of a cup and handle formation on the weekly chart. The weekly chart exhibits good volumes at the breakout zone of 36. Time to start building long positions with Fibonacci extension targets of 52/76 in the medium term.
For investment this stock buy and forget it, we see moving average yet not given confirmation and it might take time to confirm it, before that we see the trend lines, for long term keep watch or buy from current level and if it breaks then add more at 180 range for target 260 above.
It is been observed on the Daily chart that the price action trending up in channel and then consolidating in a big symmetrical triangle. Now, it has finally breaks above the triangle consolidation indicating a further move up.
It is been observed that the price action is trending up, making new higher highs on weekly chart. It is also observed that price action breaks out from a rectangle shape flag pattern. (When the price action breaks out upward against the downward sloping rectangle consolidation pattern confirms a flag pattern breakout).
As per the flag pattern, the targets are...
It is been observed that the price action trending up on daily chart and recently breaks out of downward correction channel on daily chart. Today, Nifty corrected on a big move but the price action in this doesn't change. Bulls are in control and dominance in current scenario. It has completed 8 Waves cycle and now moving onto a new impulse wave. It is a good time...