Stock belongs to Oil marketing and distribution industry. Engaged in the business of LPG bottling / distribution . Stock price is getting contracted in the band 90 to 60 levels. % of promoter pledge is the major turn downs of this stock. High selling pressure is seen in the charts. ROE is also low . In short run its not a good bet .
CONFIPET:- Stock has given breakout that too with good volume. keep on eye.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Confipet Daily having Inv head n shoulder BO on daily chart, 200 ema support on daily chart.
Good to buy half qty at 63 for target of 73 , add half qty when retracement near 58-60 levels.
SL 56
Confipet taking resistance on red trend line after ATH.. Forming Cup with Handle pattern too..
Taking support and bouncing from a long term green trend line..
Risky traders buy above 81
Safe traders buy above 85
1st Target 99 2nd Target 115
SL 73 dcb
Approx time 1-1.5 month
Daily charts of CONFIPET. (OPEN THE CHART ABOVE TO UNDERSTAND THIS DESCRIPTION BETTER)
Gave a long accumulation for 4 months in 2020
Shot up after a breakout price action
Consolidating again in the purple zone
This purple zone can act as a Re-accumulation zone (if price breaks from the upper side of the range) or as a distribution zone (if price breaks from the...
buy above 68 in swing and intraday
for swing trade keep sl according to your risk,
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as...
