1) Firstly pretty good channel breakout
2) And successfully Retested the trendline with low sell off candles
3) You can aim for 530 levels for the target (i.e 1:2) and keep your stop loss below the breakout candle.
4) I gave the target levels in this trade. Actually, I don't set the target, I do take exit depending on price-action (and it varies from the person to...
Triangle pattern breakout,
all sugar stocks are trending,
Budget theme may play,
Earlier we caught breakout in andhra sugar can see in comment section now it is avadh sugar.
My concern is the volume which is not as like a breakout volume.
The stock broke out of the declining parallel channel. The issue is that although the volumes are higher, they are not very high, and this breakout could be a false one.
I think the trade can be initiated by keeping a closer stop, which can give a good risk reward ratio.
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Short Term Quick Profit
Target : 127.75
SL : 107
Timeframe < 30 Days
Can hold for longer time
The stock is picked up not for this small target.
The Long Term Target is a lot more
This might take around 9-12 months from now.
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections and then higher...
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It has given Channel breakout on longe time frame and also given rounding bottom breakout on shorter time frame. Increasing in Delivery volume indicated bullish movement expected ahead. We can expect price movement up to 250 in near terms. All oscillators also indicating bullish movements ahead.