JAMNAAUTO - Bullish PatternThe stock has been gaining strength and is hovering just ~5% shy of its all time high levels.
I suppose it should soon meet and cross the ATH of 102.5 which is target 1, and can fly further to 110.
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JAMNAAUTO
#RICOAUTO CMP49.05 #TARGET 68 #JBMA #JAMNAAUTO #HONAUT #AUTOIND#RICOAUTO
LONG TERM INVESTMENT
NSE: RICOAUTO
CMP 49.05
Target 68.30
SL 44.25
Profit 40%
Can Hold For Long Term
Factors:
Trend Following
Follow the trends.
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
Breakout in JAMNAAUTODisclaimer :- This is not any buy or sell recommendation. This is just my view on this counter. Thank You !
There is a kind of inverted head & shoulder pattern breakout generated in JAMNAAUTO on weekly chart.
Next levels as below :-
First Target :- 78.00
Second Target :- 85.00
Stop Loss :- Below 65 on closing basis.
Automobile Sector - Leading and Outperforming Companies (3)As per the Auto Index chart, it is consolidating in a downward diagonal channel, but there are companies in auto sector, (industrywise) which may outperform due to their strong fundamentals.
In Automobile Sector - Leading Companies Industrywise
1. AshokLeyland (Commercial Vehicle)
2. Jamna Auto/Automotive Axles (Auto Ancillaries)
3. VSTTractors/ Escorts (Tractors)
4. Maruti (Cars)
5. Eicher Motors /Hero Motorcorp (Motorcycles)
They above listed have consistent profits, good growth and almost no debt.