beautiful set up on chart, long consolidation... Channel BO candidate, double bottom candidate, RSI BO, RSI @ 69 (good) & Increase in volumes over the consolidation period...all makes it a perfect BO candidate..a perfect text book example!.wait & watch..will it give a BO?
Disc : Invested, not a reco for Buy/sell
GRANULES INDIA as per daily chart pattern analysis today has formed bullish candle breaking the first resistance level of 310 along with break the down trend channel. Stock should move uptrend with next resistance at 335 level.
MEGHAMANI ORGANICS as per daily chart pattern analysis is in the down trend channel and so far it tried twice to break the resistance level and thrice taken the support level. And on 26.11.2021 it has made strong candle. After breaking the channel once it crosses above 118 level then target 125 level. Considering market weakness be carefull in entering any new...
NSE:IFBIND broke a minor consolidation zone and is heading for a target of 1500.
Area of entry would be in between 1250 - 1300 and Stop loss can be 1100
1. Huge Volume on Breakout
2. No Major Resistance until 1500
This is for educational purpose only .
One should consult his advisor and should take decision if they want to invest .
As one can see there’s a Ascending triangle and a channel breakout.
One can buy at Current price of 1457 with a target of 1500 , 1525 and sl of 1350.
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momentum and trend indicator now showing that all timeframes are bullish
stock had earlier broken out of resistance zone back in nov 20 but had retraced back
to take support at previous resistance and then bounced from change in polarity aug 2021.
Monthly weekly had been retracing in a trendline channel forming a flag pattern
which broke out further up last week....
Piramal Enterprise had taken a good breakout from its channel pattern and also retest done, so give an entry with appropriate Stop loss only after its breakout
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative...
The stock attempted breakouts in Feb/Mar but could not get follow through volume. Dropped back to 20Wk VWMA, and this time managed to get massive follow through volumes on breakout. The stock is trading at ATH price, so sky is the limit. Nifty is in a definite trend, so this is likely to get good volumes in the coming days.
Moving along with sector.