SYNGENE INTERNATIONAL A STOCK IN MOMENTUM Syngene International Ltd. is an interesting chart in momentum with following
1. RSI on all time frames (DWM) above 60
2. Narrowing Bollinger Bands on daily chart with price walking on upper band
3. Huge Anchor candle formed on weekly chart with high volume
4. Major price supports
20 SMA (daily) 883
50 EMA (daily) 875
20 SMA (Weekly) 864
Super Trend (daily) 864
with cluster of supports in zone of 864 to 885 and Fibonacci extension targets of 980-1018-1068 stock can be good risk reward option to keep on radar
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
Momemtum
GSPL : +15% Upside Potential25 Nov 2022 GSPL
Stock BO of previous TL on 15 Nov 2022 with huge volume, after spending 2 weeks in the zone fresh BO is seen with volume, likely momentum to continue.
Summary
• BO/RT done
• Stock has shown a good support @POC around 238 zone
• 76 days of accumulation
• Fresh BO
Conclusion
• CMP 260.45
• Initiate test qty
• Higher targets could be around
o Short Term – 276/296
o Mid to Long Term – 332/379(Important resistance to watch out for 311-326)
Wish You Happy & safe trading
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind Jai Bharat
Mentorship InstaView 30 Aug’21: I Believe I Can Fly
Nifty View: A strong opening to the week from the benchmark Nifty index today. A gain of over 200 points to inch very close to the next milestone - 17,000. There is no dearth of momentum and resilience and so we should not question the possibility that this 17K level will be breached. However intraday charts are a little stretched in terms of momentum indicators and so a slow down is likely ahead this week. Please watch the video for a more detailed analysis.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Nifty InstaView 03 Mar’21: Got Carried Away Nifty View: Cracker of an up move from benchmark Nifty index in today’s session. Not only did the index break above psychological 15K mark, but it extended way further ahead and posted a confirmed confident close near 15,300. We now have a reversal of the short term trend on the upside. Recently we have noticed frequent reversal of this underlying trend due to the heightened degree of volatility. An important level moving ahead will again be the psychological 15K mark which will act as the short term support now. A look at the Volume Profile of the recent bounce back clearly reflects lack of volumes as the index extended up today. This implies “short covering” being the main fuel to the rally, and so a short term consolidation or correction of this move should not be discounted. With the index back in an up trend with momentum, strategically it is prudent to maintain a bullish bias and look to buy on dips and chase breakouts wherein conviction is high.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.