Laxmi organics breaks trend line resistance, and retest made for trend line breakout at last circle. Made consolidation and then again breakout, confirmation for a caped downside, by keeping sl near 264 which is breakout candle low go for, First target 380 , second target 490.
ABOUT
Laxmi Organic Industries Limited was established in 1989 and is in the business of specialty chemicals. The Company primarily manufactures Ethyl Acetate, Acetic Acid and Diketene Derivative Products (DDP). DDP is a specialty chemical group, the technology and business of which has been acquired by the company from Clariant Chemicals India Limited.
The...
lx chem look good for positional swing trade.
stock has made short term bottom formation on date 29/11/2021
and next 3 day attempted rally
finally follow trhought day happned with incresed volume
risk managment will play key roll here marked part entry for entry for first 50%
later balance 50% can be enter at re test of pattern or on momentum up side...
Seems like Lxchem is making a triangle pattern & Was at Support Trendline we will enter with confirmation above 550 level by keeping 595 as 1st TGT & 625 As 2nd TGT. Sl if the candle closes below 528 level and it's low Break.
*Always Enter With good confirmation & Maintain proper Risk Reward.
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