MTAR TECHNOLOGIES - Bullish Flag & Pole Breakout (Daily T/F)Trade Setup
📌 Stock: MTAR TECHNOLOGIES LTD ( NSE:MTARTECH )
📌 Trend: Strong Bullish Momentum
📌 Risk-Reward Ratio: 1:3 (Favorable)
🎯 Entry Zone: ₹1680.00 (Breakout Confirmation)
🛑 Stop Loss: ₹1573.00 (Daily Closing Basis) (-6.3% Risk)
🎯 Target Levels:
₹1740.50
₹1797.45
₹1862.20
₹1932.25
₹1999.00 (Final Target)
Technical Rationale
✅ Bullish Flag & Pole Breakout - Classic bullish pattern confirming uptrend continuation
✅ Strong Momentum - Daily, Weekly & RSI >60 (Bullish zone)
✅ Volume Confirmation - Breakout volume 472.5K vs previous day's 98.43K (Nearly 4.7x surge)
✅ Multi-Timeframe Alignment - Daily and weekly charts showing strength
Key Observations
• The breakout comes with significantly higher volume, validating strength
• Well-defined pattern with clear price & volume breakout
• Conservative stop loss at recent swing low
Trade Management Strategy
• Consider partial profit booking at each target level
• Move stop loss to breakeven after Target 1 is achieved
• Trail stop loss to protect profits as price progresses
Disclaimer ⚠️
This analysis is strictly for educational purposes and should not be construed as financial advice. Trading in equities involves substantial risk of capital loss. Past performance is not indicative of future results. Always conduct your own research, consider your risk appetite, and consult a financial advisor before making any investment decisions. The author assumes no responsibility for any trading outcomes based on this information.
What do you think? Are you watching NSE:MTARTECH for this breakout opportunity? Share your views in the comments!
Mtar
Building Nation With Exceptional EngineeringMTAR Technologies - CMP 1636
MTAR develops and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The company was incorporated in 1970 by the promoters, Mr PR Reddy, Mr KSN Reddy and Mr PJ Reddy, to cater to the technical and engineering needs of the Indian government in the post embargo regime. MTAR has manufacturing footprints in Hyderabad with seven units spread across a 4 km radius and a dedicated export facility as well.
In addition, the company also supplies specialised products such as Ball Screws, Water Lubricated Bearings, Roller Screws, Electro-Mechanical Actuation Systems, ASP assemblies etc. that find applications across diverse sectors.
This is just to boost my confidence. No Suggestions for buying.
Disclosure: I am not SEBI registered. The information provided here is for educational purposes only. I will not be responsible for any of your profit/loss with these suggestions. Consult your financial Adviser before making any decisions.
MTAR Technologies Ltd - Breakout OpportunityDate : 21-May-2024
Rating : Buy - Positional Trade
LTP : Rs. 2,110.35
Targets: (1) Rs. 2,320 --> (2) Rs. 2,475 --> (2) Rs. 2,563
SL : Rs. 1,910 on daily close basis
Technical View:
• NSE:MTARTECH was moving in its primary downtrend since Sep-2023.
• After touching the lifetime high of 2,920 on 11-Sep-2023, it has retraced 43% to 1,661 level.
• On 21-May-2024, NSE:MTARTECH has broke out from its primary down trend with higher than average volume.
• Since 17-May-2024, NSE:MTARTECH is trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 75.36 and MACD is trading at 38.04.
• Both RSI and MACD is showing positive divergence on daily timeframe indicating a trend reversal.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
MTAR Tech - Seems ready to move higherKey Highlights:
- Coming out of the re-accumulation
- Possible range expansion towards 2000-2100 in the short-term
- Possible new ATH by Q4-2023.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
MTAR tech Breakout With H&S Pattern | Huge Volume seen MTAR Tech made a Head & Shoulder Pattern and done with a Breakout with huge Volume exactly from the Neckline, now it will further continue a upward trend possibly after a retest from the resistance which turned as a support after the breakout. you can hold it for target of 1900-2000 .
MTAR TECHNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading