Orient Electric is trading near 100 DEMA and potential support zone of 360-365. Overall trend in stock is bullish and a bounce to previous swing high might be possible. As per trade setup we can initiate buy at 360-365 with a Stoploss at 346 and target 394.
This is follow-up on Orient Electric. Can check link to related ideas.
Target 2 achieved. More than 51%. Target 3 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please...
Note: This is for educational purpose only.
There seems to be an ascending triangle formation with spike in volume. RSI at 70 indicates bullish momentum. Moreover, the price seems to be taking dynamic support at 50 EMA.
SL: ₹ 296
ORIENT ELECTRONIC CHART LOOKS GOOD!!
ITS A CUP & HANDLE PATTERN BREAKOUT.
SHORT TERM VIEW 1 MONTH.
Company has reduced debt.
Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 26.25%.
Company has been maintaining a healthy dividend payout of 32.37%.
CUP AND HANDLE PATTERN.GOOD VOLUME BREAKOUT.
T1- 357 levels approx.
T2- 393 levels approx.
Disclaimer: Chart is shared only for educational purpose. Before investing please consult your financial advisor.
DAILY SWING CALL // Monday 24th of May 2021 // NSE:ORIENTELEC
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 299
TARGET: 344+ (15% Around)
THE ORIENT ELECTRIC IS GOOD FUNDAMENTAL STOCK. IT IS CURRENTLY TRADING AT ITS SUPPORT LEVELS. IT'S GIVE A HAMMER PATTERN IS BULLISH REVERSAL CANDLESTICK PATTEN.
SO NOW TIME TO BUY ORIENT ELECTRIC.
TARGET IS 300 ; 330 ; 350.
STOP LOSS IS 255.
NOTE:- THIS TARGET IS FOR SHORT TERM ( 2 DAYS TO 3 MONTHS ).