BHARATRAS out of consolidation after a period of long time. When lok into MTF, we can see that it has been corrected sufficiently and was in an accumulation phase. Recent volume buildup indicates that it is out of dormancy.
BHARATRAS:- Symmetrical triangle pattern is formed, you can plan for side confirmation if you get side breakout, till then keep your eye on the stock.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like...
There is a clear opportunity in Bharat Rasayan Ltd .The price is near a trendline support , a golden fib support and a previous resistance support . The promoter holding and FII / DII holding has increased , this shows some good buying sentiment in this stock .
Why to buy ?
1. The stock is at 0.618 fib
2. Took multiple support at the green line
3. Positive divergence in RSI ( RSI making higher lows)
4. Support of 200 EMA. ( Earlier too the stock took support of 200 EMA and showed a healthy jump)
5. Decrease in volumes( Sale volume)
6. Large green candles
7. Triangle pattern
Buy between 11800 to 1200
Target - 16000 ( at...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
