Nice contraction of volumes is see while the stock is consolidating and taking support of 73-90 zone and thereafter sustaining well above 98-104 supply zone too which it failed to earlier.
It is trading above all its key moving averages too.
Well it has broke our of this base and sustained well above it for 2 weeks now.
119-125 shall now act as good support...
#MANGCHEFER trading above Resistance of 134
Next Resistance is at 208
Support is at 89
Here is previous chart:
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 a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. ...
The analysis is done on Monthly TF hence price may take few weeks to several months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
Mangalore Chemicals (Mangchefer) has given multiyear breakout with volumes.
One can buy at Retest 105 with 80 as Stoploss.
All ideas are shared for Educational purpose only.
No Buy or Sell recommendation.
Key highlights:
- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- Multi-year breakout
- Created a new ATH
- Retest zone: 90-100
- Any pullback towards 80 levels should be seen as a buying opportunity.
Disclaimer : This is NOT investment...
I will buy MANGCHEFER because :
The price has broke the resistance nearly after 8 years
The stock is showing good volumes as well.
Entry : 106
Target : 80/60
Stop loss : 200/160
Mangalore Chemicals & Fertilizers Ltd - 21.03.2022
The stock is trading @ 80 levels
There is a Inverse Head & Shoulders Formation in Weekly Charts (Neckline @80; Formation Low @ 64.65)
The prices are above EMA
There is a PIERCING PATTERN in Monthly Charts
RSI is 58 in Weekly Charts
One can initiate a BUY Position above 81 with support @ 76
Watch out for the...
The stock has had a long build up through the entire month of June since it dropped down from its all time high of 101 which was hit on 14th may and now its trading at 82. It has consolidated for the entire month of June and its a dormant volcano which can burst to the upside any time. Let me show you an interesting comparison with deepak nitrite. Deepak nitrite...
WEEKLY CHART
#TIRUMALCHM
NSE: TIRUMALCHM
Long Term Investment
CMP 145.35
Target : 214.80 (~45%)
SL : 111
Timeframe < 90 Days
Can hold for longer time might reach 400s
Factors:
Rounding Bottom Pattern
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher...
