Page industries is on the verge of breakout from flag and pole pattern. Close above 200 DEMA. Good Volumes. Next resistance is at 21200 level.
Look to buy between 20300-20350 tomorrow for target of 21240 with SL at 19940.
Looks like a good trade.
Stock is current at strong support and trading within an ascending triangle.
1) Go Long for short term swing trade
Entry ~ 18.9k
SL ~ 17.7k
Target ~ 21.1k
2) Can be accumulated from a long term view
The stock has taken support at a very important pivot. It made an gap down entry on Friday and was able to pullback. 22660 will serve as immediate resistance in the coming week above which the stock may pull up to 24100, 24600 & 25400 levels. However any failure to cross 22660 and a fall below 21600 may push the prices down to 19700. To regain strength the stock...
TREND ANALYSIS & TRADE SETUP
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Page Industries had declined sharply since April until August where the stock managed to enter into a consolidation and in the interim created a nice rounding pattern that eventually lead it to a breakout above its value resistance zone around 21000. These zones also happen to be a gap area that has managed to halt the prices after its strong breakout seen in end...
Stock is trading below critical round number of 20000. 61.8% FIB level coincides at that price. Weekly close should be closely monitored.
If stock happens to close above 20000 on weekly basis, it would give some hope for the Bulls.
On the other hand if the stock closes below 20000 it could potentially trigger another round of selling. Visually, one can observe...
- Formation of an inverse H & S pattern
- Stock to hit 2200 levels before its starts moving in favour of pattern
- Macd shows massive divergence
- RSI shows negative divergence
- Volume is starting pick up on gradual basis
My suggests is Page Industries Ltd Buy shares at the target price of 28850.0. Page Industries Ltd. . The current market price of rupees is 23579.1. Market Expert has fixed its period of 1 year, when Page Industries Ltd The price can reach its set target.
For the end quarter 31-12-2018, the report sold by the company is standalone - Rs 738.32 crores, 6.89% up, last...