Hemisphere
Channel Breakout in HEMIPROPLooking at the chart in daily timeframe for Hemisphere Properties, we can clearly see there is a breakout from the channel pattern after almost a year of consolidation. The upper trend line of the channel has been broken with absolutely huge volume. We can see a small consolidation after the breakout which is a healthy sign for the stock to move upwards. If the momentum continues, it can easily give double digit returns to the investors.
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Swing trade - Bullish breakout in HEMIPROP🔴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 its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
HEMISPHERE PROPERTIES INDIA LTD. PRICE ACTION ANALYSISThe stock price has broken out its previous swing high and also the falling trendline with higher volumes. This is a bullish sign.
Currently, the price is trading at the supply zone. Breaking this price could give us a rise to 150 or more. But book your profits at 150 and wait for the price action to re-enter again.
The two long scenarios and their stop loss levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.