INDIGOPNTS: volatility contraction pattern
➡️ VCP (volatility contraction pattern)
➡️ decent financials with increasing cash flow from operations year over year
➡️ a management which thinks long term reflecting from the recent comments
➡️ crude prices below USD 70
➡️ have been holding this since my last post (added more recently) and my view has changed
INDIGOPNTS
#SHALPAINTS 124 TGT 150 #ASIANPAINT #BERGEPAINT #INDIGOPNTS #ITCSHALPAINTS 124
TGT 150 / 175
NSE:SHALPAINTS
CPM 124
TGT 150 (20%) // 175
SL 112
RR > 2
TF < 6M
Trading Charts Candlesticks Patterns Technical Indicators
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Indigo Paints Swing Long - Indigo Paints is currently trading at 1502
- Paint stocks have a huge correlation with Crude Oil Prices
- Whenever we see BRENT/WTI Crude Oil Prices getting slaughtered we always see Paint stocks moving up
- Similarly the setup for Indigo looks good to me and we can easily see this purging above 1600 soon



