Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Finolex Industries is on the verge of a big big breakout
1. It has broken a rising trend-line and sustaining above it for the first time in a period of twenty long years
2. It has given a breakout of a rising parallel channel and is about to be sustaining above it
3.This breakout is seen supported by life time high volumes, volumes which are repeated after a...
~ Swing High Breakout - ✓
~ Price Close at ATH - ✓
~ Positive Spread Performance in all Time Frames - ✓
~ Spread Chart Breakout - ✓
~ RS+ & Increasing Relative Strength - ✓
~ Huge Qty (61.71 lac shares) Delivered on 17th Sept. with Avg. VWAP of 189/-
~ Good Volume Activity during Breakout - ✓
Good Stock to Study & Keep Eye on.
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.
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...
"Looking bullish from current levels and expecting minimum 5% to 7% returns."
" Trade with risk management but don't get afraid of taking risks because if you afraid to taking risks than you don't able to make big profits."