Finolex cables Trading at Rs 531 at Breakout level On weekly chart,
If it break it will be going to be multiyear breakout
Must be on your watchlist..
Do your analysis before take a trade
NSE:FINCABLES is showing pretty bullish momentum. Multiple breakout ready signals
Head and Shoulder pattern breakout
Rounding Bottom Breakout
Long term down trendline breakout
Very High volume
10th Nov is result date
Buy above 530, SL: 515, Target: 550/575
Points to notice in the stock:
1. Made an inverted H&S pattern on DTF.
2. Broke the Neck line of H&S
3. Currently testing the demand near to demand zone.
4. if the price breaks the nearest supply of 442 then it may head for a next supply area near about 495-505
DISC: This is not a buy or sell recommendation. Only for educational purposes.
Finolex Cables Ltd - 07.01.2022
The stock is trading @ 527 levels
The prices are at SUPPORT
The prices are below EMA
There is a SHOOTING STAR in daily chart
Let the prices go above 541
watch out for the price action
Finolex Cable spot CMP : 455
Study :- Price action + chart patterns + Elliot wave
Time Frame :- Daily
There is Rising channel formation, currently price is around the demand line of long term structure, on smaller range of time frame there is formation of symmetrical triangle formation, which have demand line around current levels. so there are 2 structure...
All details are provided in the chart itself
Buy at 430-450
Target 1 - 625
Target 2 - 700
Stop Loss - when it breaks 200 EMA or the trend line and stays below it for a significant period of time.
Great Structure
Bullish Bias
Stop Loss 440s Level
Target 540s Level
Divergence
Stock is shaping up nicely
Pullback based on Lower volumes
RSI bouncing from Support Level
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.
Disclaimer: ...
Stock is moving up with very high relative strength and both technicals and fundamentals are strong in the case of market indices correlation. Price is in the trending phase with Higher-Highs of 0.3-0.5 fib retracement which is considered as a fast trending pace of a particular stock. Recently the stock has given a breakout over the distribution phase and now on...
Stock has given breakout _> then retest also done
good upside movement can be seen
right-now it is in resistance zone from historical downside price level if comes down good buy recommended
