CARTRADE - Ichimoku Breakout📈 Stock Name - Cartrade Tech Ltd
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 1050.
🚨Disclaimer: This is not a Buy or Sell recommendation. It's for educational purposes and a guiding light to learn trading in the market.
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Cartradestockanalysis
Cartrade cmp 991.45 by Weekly Chart view since listedCartrade cmp 991.45 by Weekly Chart view since listed
- Support Zone at 900 to 925 Price Band
- Resistance Zone 995 to 1025 Price Band
- Volumes are seen spiking steadily over past weeks
- Weekly basis Support at 900 > 810 > 708 with Resistance at 1110 > 1215 > 1345
- Price is trading well above Falling and Rising Trendlines showing very positive upside momentum
- *Multiple Bullish patterns of Rounding Bottoms and/or close to 2 1/2 years Long Cup and Handle and/or VCP pattern, as one may observe and interpret the Technical Chart Setup*
Daily Bullsih Flag Pattern BO in CARTRADE TECHIntroduction:
CarTrade Tech Ltd. operates an online marketplace for new and used vehicles. Its brands include CarTradeExchange and MotorExchange. The company was founded by Vinay Vinod Sanghi and Rajan Jitendra Mehra on April 28, 2000 and is headquartered in Navi Mumbai, India.
Analysis
A Bullish Flag and Pole pattern is visible on the Daily chart of NSE:CARTRADE . The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price. MACD gave Positive crossover on Weekly Chart.
One can create a fresh position in the scrip near Rs. 820-840 levels with the stoploss of Rs. 780 on Daily closing basis for the following targets 860.60, 879.55, 901.15, 925.40, 947.85, 959.35,981.25, 996.50 and 1020.10.
Risk Disclaimer:
The trading ideas and analyses presented here are for educational purposes only and do not constitute financial advice. Trading and investing in financial markets involve risk. You should carefully consider your own financial situation, risk tolerance, and investment objectives before making any investment decisions.
The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided.
Trading and investing carry the risk of substantial losses, and past performance is not indicative of future results. Always be aware that markets can be unpredictable, and prices may move against your trade or investment.
It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions. You should only invest funds that you can afford to lose.
I am not responsible for any trades or investments made based on the information presented in this analysis. By reading and using this information, you acknowledge and accept that you are solely responsible for any losses you may incur.
Expecting Good ReversalNSE:CARTRADE
High probablity setup in CarTrade.
Stock is in Good Uptrend and tring to break the Resistance.
The Drastic fall Since the IPO might reverse from here
Reason of the Very disappointing performance of the company was
truly its Weak Fundamentals.
As the Company has improved over its Fundamentals I expect
a good growth into it.
This is what I think is Attracting Investors into it.
if the Stocks Closes above 660 then I expect it
to Further move towards 700-760
NOTE - THE ABOVE IDEA IS MY PERSONAL VIEW
PLEASE MAKE YOUR OWN RESEARCH TOO.
Happy Investing....!!!