ISGEC chart looks strong, any dips near 600 will be a strong buy, company has recently started operations in its new ethanol plant, and is a major player in many sectors. I have already made a position. This is a positional pick. Stoploss can be placed @ 540
*DISCLAIMER*
This analysis is only for educational purpose. I am not a SEBI Registered Analyst/Advisor....
Goodluck India is consolidating in an Ascending Triangle formation (Daily Timeframe) with volume clearly drying up. The stock, when looked at in Weekly Timeframe, forms a Nice "High Tight Flag" pattern. Any breakout at this level has a good scope for sharp rally upward.
Redington stock is forming a High Tight Flag pattern. Going long in this pattern can offer excellent Risk Reward.
A word of caution : Redington has announced 1:1 bonus issue (Record Date : 20/08/2021, Ex-Date : 18/08/2021). So if you are buying the stock, you need to factor in the effects of this Corporate Action.
- Weekly Chart
- Positional / Swing Idea
- Potential High Tight Flag setup
- Getting ready for Accelerated move
- On the verge of breakout from sideways action
The high tight flag chart pattern is an extremely rare, bullish formation. Stocks that have amazing fundamentals generally form these. Despite the already big move before the base emerges, the breakouts from this pattern are explosive.
This pattern forms after a stock makes a gain of 100% or more in only 4 to 8 weeks and consolidates while pulling back less than...
