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
finolex cables Strong pull Back
May be Give 10 % to 15 % gain
I am not a SEBI registered adviser. All the information provided by me are for educational/informational purposes only. Never invest more then 2 % Capital In Single trade. Trade on your own Risk and analysis
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
LONG POSITION IN FINOLEX CABLES
The price has broken out of the descending triangle pattern with strong volumes.
The price is being supported by the sloping up TL.
MEASURED TARGET LEVELS OF - 352
Vixifix is decreasing, OBV is increasing, trading confidently above 9 EMA, and closing close to 22 EMA..
Positional Long with target being 250 in about 10 trading sessions
Yet another Wealth Creator pick from my side. Buy above 500 and Accumulate on dips, No Target just hold till bullish structure becomes bearish. This stock could be potential Multibagger. Cheers!!!!!!
