United Spirits has formed symmetrical triangle pattern on monthly time frame. Closing and sustaining about 583 can lead to potential breakout.
1) PRICE ABOVE 30 DAY SMA
2) RSI IS MID-RANGE
3) MARKET LEADER IN INDUSTRY
4) PROFIT AND REVENUE HAS BEEN INCREASING EVERY QUARTER FOR THE PAST 2 QUARTERS.
5) COMPANY WITH LOW DEBTS.
#History repeats itself and that is what is seen here also, with the support of good volumes and green Elephant candle we can clearly see a breakout of Channel pattern. Once sustains above 50EMA , may get a positional target of 580 - 600 - 640 levels.
United Spirits has formed symmetrical triangle pattern on monthly TF. Closing and sustaining above 583 can lead to potential breakout.
Profit and revenue has been increasing for the past 2 quarters.
Trading above it's 30 day SMA of 534.
RSI is mid-range.
MCDOWELL_ UNITED SPIRITS is at a very good accumulation zone with near to its support. With the market uncertainty this would be a stock one must have in his portfolio. Currently this stock is heading for its 5th Wave and The targets that are visible currently are 606.45 in mid term and 646- 678 in long term.
Incase of any doubt, please feel free to reach...
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I will buy MCDOWELL because :
It has been taking support at the trend line .
It has touched the support 2 times and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 563
Target : 649
Stop loss : 538
Please refer to the Related Idea of #Britannia (link below).
In this video had advised #Britannia #AsianPaints & #McDowell_N
I missed posting the idea for #McDowell_N so posting now.
Trade got activated and met both targets today.
Entry Level: above 572
Targets: 575 / 577