IOL Chemicals & Pharmaceuticals Ltd is poised for an upside move.
🔹Current market price standing at 472
🔹Breakout range is between 503-515
🔹Additionally, the promoters have increased their holdings in the last two quarters
🔹The balance sheet shows favorable signs
🔹Chart demonstrates the strong technicals
Before making any investment decisions, it is advisable...
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before...
A Bullish Continuation Wedge is a pattern that emerges when there's a brief pause in an ongoing upward market movement. It's characterized by the formation of two trendlines that gradually converge in a downward direction against the prevailing uptrend.
Throughout this consolidation phase, there's a struggle between the bearish and bullish forces. The bears aim...
IOL Chemicals and Pharmaceuticals Ltd (IOLCP)
LTP : 381.5
Support : 315-365
Disclaimer:This is my personal view. Prior to making any investment or trade decisions, please consult your financial advisor.
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IOLCP with current market price of 338.00 looks trading at long term support levels on monthly chart. Current bullish candle need to sustain for expectation of reversal. A trend line support levels can now be consider as stop loss point. Upside is open on reversal
Chart pattern just explains the situation
1. Dow theory respected.
2. Breakout with volume .
3. At 4 year old Support Trendline(from 2018).
Target & SL levels mentioned @ chart !!!
Let's wait & watch how it moves!!!!
Note - Just Sharing my view....not a tip nor advice!!!
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
IOLCP which is highly undervalued stock seen retracing more on its levels. Stock seen retracing in E of A,B,C,D,E, as mentioned on chart and a retracement of 61.8% of a earlier rally comes to 435.00. Need to think if stock really in mode to retrace harmonically then more 23% fall cannot be ignored. Study the chart carefully
you can think of buying IOLCP becuase it has strong momentum and can move great heights for a short term, might hover around green line but keep stoploss when price closes below green line, Happy Trading :)