A very high probability that parag milk stock can be a breakout after almost 4 years. A very big target of 250-275 with a very small SL. This stock can bounce back from the 50 EMA with high volumes. Keep the stock in your watch list. this is for your educational purpose only.
Stock is near to complete double bottom pattern and given huge BO with volume spike on daily & weekly TF, follow chart for proper entry and exit levels.
Big bullish weekly candle by PARAG FOODS
Double bottom on long term charts
Make positions in the range of 95-100 (enter on a hammer or engulfing in 1H TF)
Tight SL at 85-89
Target 1 at 125 (book 50%) (If it consolidates in this range add more)
Target 2 in the range of 150-160.
Parag Milk Daily long term trendline BO happened.. Now its a inverted head n sholder BO with good retest of neck line. Daily candle having support of 200 ema.
Good to buy at 104 for target of 147 with sl of 94
NSE:PARAGMILK
The stock is at very important level .
The stock is at resistances daily level which it will break we can see a great upside movement . of 110
As we can see a engulfing candle and a dojji
if it breaks down it will then also there will move . till 72
This is for educational purpose
Sector FMCG
Parag milk operates milk, processed cheese, low price high selling cooking butter.
It is the 2nd Largest Player in Cheese in India with a 35% Market Share.
It is a leader in the Cow Ghee category with its brand ‘Gowardhan’ Ghee.
All the details are mentioned in the charts.
Any quires/clarifications required
Kindly revert back.
RSI :- Above 60 is...
#PARAGMILK consolidation near 3 month in a tight range.
100 Weekly EMA was previous resistance and become support. Also 120-125 zone act as strong support.
I feel down side is very limited.
I am expecting 170, 200 & 260 for Positional trade.
The analysis is given on the chart
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I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
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Parag Milk is into dairy products and have released their Quaterly financial Statement with a drop of 90% PAT, This could be the reason for the recent sell off. The CMP 97.5 is really close to a crucial support level along with the RSI indicating it to be in the oversold region for Parag Milk Foods on the 30m Chart as well as the 5m, 45 and Daily chart. This...
