BORORENEW Long Idea.....Bororenewable looks good for me on Weekly Charts. It broke out weekly trendline resistance.
Broader market strength doesnt look good. So be cautious of Position sizing.
If market drags down bororenew along withit, then stock may settle at 500-540 zone. So this zone might be a good place for average.
NOTE: No idea of Fundamentals. Just a Technical view.
BORORENEW
BORORENEW - Spinning Top with VolumesNSE: BORORENEW is closing with a bullish spinning top candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 16% to 24% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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Borosil Renewables Ltd: Bullish Breakout Signals Analysis:
The provided chart of Borosil Renewables Ltd. on TradingView suggests a bullish breakout with potential for further upside. Here's a breakdown:
Current price: ₹608.75, up 7.45% from the previous close
Breakout: The stock decisively broke above the resistance level of ₹528.75,
Volume: Increased volume at the breakout point confirms strong buying pressure, supporting the bullish momentum
Moving averages: The price sits comfortably above both the 20-day and 50-day moving averages, indicating a potential trend reversal
Trading Idea:
Long position: Consider entering a long position if the price sustains above the breakout level (₹528.75) with continued buying pressure.
Target prices: Potential targets could be around ₹640 and ₹685, based on chart patterns and Fibonacci extensions.
Stop-loss: Place a stop-loss order below the breakout level (₹528.75) to manage potential downside risk.
Additional notes:
While the technical analysis paints a bullish picture, remember that the stock market is inherently volatile.
Always conduct your own research and consider fundamental factors before making investment decisions.
This analysis is intended for educational purposes only and should not be construed as financial advice.
Overall, Borosil Renewables Ltd.'s recent breakout presents a potentially lucrative opportunity for traders seeking long positions. However, practicing cautious risk management and thorough research is crucial before entering any trades.
I hope this analysis is helpful! Feel free to ask if you have any further questions.
Additional notes:
While the technical analysis paints a bullish picture, remember that the stock market is inherently volatile.
Overall, Borosil Renewables Ltd.'s recent breakout presents a potentially lucrative opportunity for traders seeking long positions. However, practicing cautious risk management and thorough research is crucial before entering any trades.
I hope this analysis is helpful! Feel free to ask if you have any further questions.
Disclaimer: I am not a financial advisor and this analysis is not financial advice. Please do your own research before making any investment decisions.
BORORENEWBorosil Glass Works manufactures scientific ware items and consumer ware items
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
Keep an eye ladies and gentlemen. Cheers and Happy Trading
Borosil renewable is an example of a textbook patternWeekly analysis of Bororenew stock can be analyzed as a beautiful representation of flag and pole pattern.
The flag is a falling wedge pattern and currently is nearing the breakout zone which is also its 50% fib retracement level.
The daily time frame chart of the stock is signaling a bullish breakout and the risk to reward is very attractive.
Fundamentally, this stock is one of the best picks for renewable sector. You can study the chart and invest as per your own analysis.
BORORENEW | Good for Long NSE:BORORENEW
Reason for Trade : WEEKLY SUPPORT
Cmp : 563.70
Entry : Cmp or near Support 556
Stop Loss: According to one's Risk Reward ratio
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Disclaimer: All the information posting on this page are for the educational purpose only, we are not SEBI registered financial advisor. We wont recommend any BUY/SELL of stocks. Contact your financial advisor before taking any action
YR 2022 Idea #72: Long on BORORENEWThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. Our objective to help anyone who wants to learn technical analysis using charts by demonstrating my real trade entries. You can post your queries in comment section here and we will try to answer them asap.
Borosil Renewables Ltd - 24.06.2022Borosil Renewables Ltd - 24.06.2022
The stock is trading @ 652 levels
The prices are at RESISTANCE (652)
The prices are above EMA
RSI is 54 in Weekly Chart
There is a HAMMER in Weekly Chart
One can initiate a BUY @ current levels with Support @ 631
Watch out for the price action
BORORENEW - Breakout with Volume - Swing TradeThe analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
BOROSIL RENEWABLES | TARGET AND LEVELS | 23-07-2021NSE:BORORENEW
Today, 22-07-2021. It followed FIBONACCI levels and opened on the critical level near 278. And then it gave a strong bullish rally.
If you see this shows now 278 is a great support level and now the bullish trend is confirmed.
Go long in this stock. Easy target will be 299-300. Once it breaks that level, I will post new targets for it.
Also do check my previous ideas about this stock and try to understand how price actions and levels are working in technical analysis.
Do comments if you have any doubt.
Also let me know if you find my ideas are helping you to understand price action and levels.
INVESTMENT PICK: BOROSIL RENEWABLESIt is engaged in manufacturing extra clear patterned glass and Low Iron Solar Glass for application in Photovoltaic panels, Flat plate collectors, and Greenhouses.
This company is future-proof as it operates in the domain of renewable energy. And the increasing interest of institutions and investors towards non-financial factors (Example. ESG) while making investments for their long-term portfolio is also increasing.
Considering the technical aspect, after an excellent rally, followed by a consolidation, it is set on the trajectory to move on the upside again.
CMP= 287.95