Graphite India - Long
Target: ₹ 523
Buy & Accumulate Zone: 400-430
Support: ₹ 400
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Graphite made a strong bullish engulfing candle on good volume after consolidating for last few days around the lower median line of the pitchfork.
1. price is above long term moving average of 200SMA ✔
2. Price is not above short term moving average of 50 SMA ❌
3. Uptick in RSI ✔
4. bullish MACD signal✔
5. above average volume✔
Target is the central median...
BREAKOUT MIGHT BE AROUND THE CORNER.
The bull run in metal sector is the key ingredients for the graphite stock as well as inflation expectations way push the stock to all time high
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As can be seen from chart, the stock has made an Ascending triangle breakout with exceptional candle and above average volume spurt.
Previously, it had made the sme type of pattern which can be seen as shown on to chart.
Intraday Long above 696 can give 707/718
Positionl long above 696 can give 745/780
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice
When I told everyone to buy at 593, only a few listened and now they are having a laugh.
That's why I say only technical analysis, no hawabaazi.
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Heg 2018 July high was made ever since this level isn't broke.But current MMT policy coupled with commodity uprise has left heg in an optimistic position where it can break this historic trend line and finally reach at its all time high. As you know metal sectors are at all time high can lead this graphite stock reach are predominant levels
