"Delivery Idea 22-01-24
GREENPANEL (CMP: 393.3)
Buy Above: 405
SL Below: 380
Target: 455"
Stock has Swing BO on Dated 28-12-2023. Now Same level has retest and take Support at Swing High.
If Stock again Move Back on 20-01-2024 High, then take Entry.
Disclaimer: Content shared through our digital media channels are for information and education purposes only...
Trade logic:
Simple horizontal level resistance breakout of 400 which is also the neckline of Cup and Handle pattern.
Levels mentioned on chart. Stock has consolidated since long. We can expect quick upmove.
- Company has reduced debt.
- Company has delivered good profit growth of 451% CAGR over last 5 years
Greenpanel Industries Limited is engaged in the manufacturing of plywood, medium density fibre boards (MDF) and allied products.
It enjoys a leadership position with a 27% market share in the organized MDF segment.
- Consolidating nicely after the initial impulsive move
- A move above 300 can trigger a rally to 325 and higher
- The demand zone is the most optimal long entry imho but I highly doubt that we will tumble that low, considering the strength of the initial move.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your...
GREENPANEL:- Stock has formed cup and handle pattern on hourly chart, keep an eye.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the...
The stock has given a sharp upmove. Once it crosses the resistance of 557 it will move further up.The RSi is above 60 and the targets are shown on chart.
As, the title says entry available in trending stock GREENPANEL, yes as the chart shows
whenever it takes support on 20 weekly moving average it makes new high after which it shows
it's rocket move.
And, now is that time to enter for rocket move also MACD histogram has turn positive which indicates
the up move pending in near future.
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Stock: NSE:GREENPANEL
Timeframe: 30-60 days
Reasons to Buy:
1. Support at 61.8% Fibonacci Level, for the second time.
2. Support at the bottom of trendline.
3. Monthly and Weekly RSI are above 60, with strong uptrend.
4. Low Risk, High Reward.
Let me know your thoughts!
