HONASA
HONASA CONSUMER - Swing Trade Analysis - 22nd June #stocksHONASA CONSUMER (1W TF) - Swing Trade Analysis given on 22nd June, 2024
Pattern: SYMMETRICAL TRIANGLE BREAKOUT
- Weekly Resistance Breakout - Done ✓
- Weekly Volume Buildup at Resistance - Done ✓
- Weekly Trendline Zone Retest with Pullback - Done ✓
- Demand Zone Consolidation - In Progress
* Disclaimer
Honasa - Swing Trade #honasa #breakoutstock #trendingstock #swingtrade #swingtrading
Honasa - Swing trade
>> Breakout candidate
>> Trending stock
>> Good Recent volumes
>> Good Risk Reward
Swing Traders can lock 10% profit & keep trailing
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Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
Honasa Consumer Ltd - Positional TradeDate : 8-May-2024
Rating : Buy - Positional Trade
LTP : Rs. 430.45
Targets: (1) Rs. 475 --> (2) Rs. 511 --> (3) Rs. 605
SL : Rs. 390 on daily close basis
Technical View:
• NSE:HONASA is in its primary uptrend since it's listing in Nov-2023 and was recently going through it's secondary downtrend.
• After touching the high of 511 on 23-Jan-2024, it has retraced 30% to 357.35 level.
• On 1-Apr-2024, NSE:HONASA has broke out from its secondary down trend. After re-testing and touching the down trend line, it started the upward journey from 19-Apr-2024.
• NSE:HONASA is trading above 20 DMA, 50 DMA and 21 DEMA since 22-Apr-2024.
• RSI is trading at 59.97 and MACD is trading at 7.71.
• Looking strong from here on.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Honasa Consumer hits new peakHonasa Consumer hits new peak, zooms 20% post strong Q2 earnings
The stock price of Honasa has zoomed 65 per cent from Rs 256.10 touched on November 10, in intra-day trade on the BSE.
Shares of Honasa Consumer hit a new high at Rs 422.50, as they zoomed 20 per cent on the BSE in Friday’s intra-day trade after the company reported a strong 93 per cent year-on-year (YoY) increase in its net profit to Rs 29.4 crore for the quarter ended September (Q2FY24).