Dalmia sugar is at a sweet spot to buy!Dalmia sugar is looking good to be a part of bull run of sugar stocks.
Levels are mentioned on chart. Stock is near 23.6% of Fibonacci retracement level. If level is broken, we can see stock moving to ATH as well.
However, Commodity stocks have an added risk of being news driven so trade with strict SL.
Idea shared strictly for educational purposes
DALMIASUG
The Diamond Bottom patternThe Diamond Bottom pattern is a technical analysis pattern that can indicate a potential reversal in a downtrend and the beginning of a new uptrend. It is characterized by a series of higher highs and lower lows, forming a broadening pattern, followed by a narrowing trading range.
The same has been identified in daily chart of DALMIASUG
Here is a step-by-step breakdown of the Diamond Bottom pattern:
Downtrend: The pattern typically starts during a downtrend, where prices are consistently declining.
Broadening pattern: Within the downtrend, the price action creates higher highs and lower lows, forming a broadening pattern that resembles a diamond shape.
Narrowing range: After the broadening pattern, the highs start to peak and the lows begin to trend upward, indicating a narrowing trading range. This narrowing range suggests indecision in the market and a potential shift in sentiment.
Breakout: The crucial moment in the pattern occurs when the price breaks upward out of the boundary lines of the diamond pattern. This breakout above the upper boundary line is considered a significant reversal signal, indicating the potential start of a new uptrend.
It's important to note that while the Diamond Bottom pattern can be a useful tool for technical analysis, it should not be relied upon solely to make trading decisions. It is always recommended to use other technical indicators, fundamental analysis, and risk management strategies to support your trading decisions.
Note for everyone who came across this reference:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
Cup and handle pattern in Dalmisug in daily time frameYet to break its all time high 545. If it break 545-550range with volume we can see a bull run. Fundamentally company looks good. Watch out for that important level break. Pattern Target 750. Keep this stock in your watchlist and Do your own analysis before investment.
#StockMarket #StockIdeas #StocktoWatch #StockToBuy #positionalDALMIA BHARAT SUGAR
Stock trading in a range from past 9months after ATH levels.
Recent Volumes are also favorable for stock to buy
If sustain above 490-500 levels then will go easily ATH levels of 520
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
DALMIASUG: Bullish BreakOut PatternThe stock has been following the ascending trend of higher highs and higher lows for a few weeks now.
There is a pattern emerging by looking at the chart, which I have divided in 3 phases.
Each phase is preceded by high volume, followed by consolidation. As soon as the price has touched the trendline, we have observed a spurt in volume and price.
If the history repeats, as we are standing in the current situation, we can very soon expect a breakout to levels of 565.
The stop loss can be maintained at 430, which was the resistance level before the previous breakout.
Supporting technicals:
RSI: 56.7 (ModeratelyBullish but not overbought)
ADX: 30 (Suggesting strong trend)
P.S: This idea is for educational purposes only and should not be construed as an investment advice.
#TATAPOWER CMP113.35 #Target 128 #ADANIPOWER #RPOWER #POWERINDIADaily Chart
#TATAPOWER
NSE: TATAPOWER
Short Term Quick Profit
CMP 113.35
Target : 127.75
SL : 107
Timeframe < 30 Days
Can hold for longer time
The BONUS:
The stock is picked up not for this small target.
The Long Term Target is a lot more
This might take around 9-12 months from now.
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections and then higher highs again.
Factors:
Inverted Head & Shoulder Pattern Forming
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia
#PHILIPCARB CMP 242.50 #Target 296 #ModiSpeech #AAPL #MSFT #TCSDaily Chart
#PHILIPCARB
NSE: PHILIPCARB
CMP 242.50
Target : 296
SL 222
RR Ratio > 2.5
Time Frame < 60 D
ITS A BULL MARKET RALLY. Bullish on whole INDIA!
Corrections followed by another high!
Factors:
Inverted Head & Shoulder Pattern Forming
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations.
With 💚 from Rachit Sethia