Best Buy in the Range of 175-180
Stop Loss -@160
Reason To Buy :
Good Support from the lower Trend Line
Bullish Breakout of Falling Wedge structure.
Good Risk To Reward Ratio.
This idea is only for the educational purpose.
Trade at your own risk.. Happy Trading .
FinCables, the popular stock, is making waves in the market today! I'm here to provide you with an educational and informative technical analysis of this potential breakout opportunity.
FinCables is trading at an all-time high, indicating strong bullish momentum in the stock.
today, we witnessed a breakout of the previous high with an...
Chart -> Finolex Industries Daily
Good Range: 175 to 185
Target: 195, 214, 243
SL: 170 Daily Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Duration:- 4 to 5 Weeks
The stock has already touch the support line and showing a bullish candle, which is an indication of upside move, so we can buy this at market order. Use proper stoploss and maintain discipline throughout the trading period and use trailing stop below all the wave step by step.
Finolex Cables has been moving in a rising channel since March 2020. It has been following a repetitive pattern of impulse followed by box consolidation. Every time it moves out of the consolidation, it retests the previous swing high. This can be a high probability trade since there is a confluence of Fibonacci level as well as 200MA on the 4hr.
A GOOD 6 MONTHS LONG CONSOLIDATION AND ACCUMULATION BETWEEN 255 - 320 PRICE RANGE, BREAKOUT OF 320 THIS STOCK CAN EASILY SEE 390/400 LEVELS CONSIDERING THE RUN IN SMALL AND MIDCAP.
I HAVE ENTERED AT 290 LEVELS BUT WILL PYRAMID MORE ABOVE 320 FOR 400 TGTS