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Parallel Channel

Huge breakout in Morganite crucible.Hello Smart traders Hope you are doing exceptionally well in you Trading journey. This time we will discuss about another beautiful breakout stock Morganite Crucible (India) Ltd. Technical- Morganite Crucible (India) Ltd has shown a rectangle channel pattern breakout. It spent six years in a consolidating phase. During this time, it consistently tested its resistance level, moving back to its strong support. Recently, it retested its resistance once again, undergoing a pullback. However, this time, it found support at its pivot point, resulting in a significant bullish candle that broke through the resistance with strong momentum and higher volume. We can anticipate a higher returns as consolidation phase was really long. Entry and Stop-loss level. Currently, the stock is trading above the trend line and maintaining its bullish trend. If this upward movement continues and remains above the line, particularly beyond the R2 level at 1246, it could be a favorable time to consider investing in this stock. To manage risk, setting a stop loss just below the R1 level, around 1130, is recommended. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Please note I am not SEBI registered. Do your own research before investing.
BSE:MORGANITE
by BullishLine
"Beautiful Breakout in ESAB India: Unlocking Potential.Welcome back again. Today we will discuss about ESAB INDIA. >>Esab India was consolidating in rectangle channel pattern for 20 months. two weeks back it has given a breakout and retraced till its BZ. >>Again last week it has took support from crucial pivot point and bounced back with a good healthy green candle along with good momentum. >>Today this stock seems to continuing its bullish trend while overall market is being bearish. We can see from chart its consolidation phase was fairly long, so, we can anticipate a big run up from here. >>Now talking about its fundamentals, ESAB India Ltd is a leading supplier of welding and cutting products in India with the market cap of 7,849cr. Take a look Some financial pointers of this stock- *The company is debt-free. *ROCE (Return on Capital Employed) is at an all-time high of 71%. *Earnings show strong potential for future growth. *The PE (Price-to-Earnings) ratio is currently at 51. *Historically, the PE ratio has been at a higher level (66) for the past two years. *Given the past PE levels, the current PE of 51 appears reasonable and undervalued. *Considering these factors, it's a potential candidate for long-term investment. If you do not have a long vision in this stock then do utilize your Risk-Reward Ratio based on Your Risk Appetite. Level of 4500 stop loss makes lot of sense in this one. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Please note I am not SEBI registered. Do your own research before investing.
NSE:ESABINDIA
by BullishLine
Nifty will touch 19760 tomorrow ?Hi All, Hope all are doing great. Last 3 days nifty traded in the rising channel which eventually broke today opening itself. The channel target also achieved. Exactly from there it took support and closed the day near the channel bottom. If we look closely first time gave gap up near channel bottom. Always trade carefully with proper SL because it’s your hard earned money. Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
NSE:NIFTYLong
by tmvinoth3
Maruti wide channel formation intraday & swing setupNSE:MARUTI Maruti Ltd on 2-hour timeframe You can see a wide channel forming and currently trading at major trend + channel support trend line. The probability of reversal is very high. Entry has 2 Scenarios:- 1. It can Give a breakout above 9565 directly or 2. It will again test the support zone and forms a double bottom pattern and then breakout above the entry point. You can plan SToP below the previous swing low or you can plan just below the current support lines. The further Resistance zones are marked on the chart. Trade after doing your own analysis. These are my Views please comment your views on this idea so we can improve together. Please Like and share with your friends. Keep learning. Happy Trading.
NSE:MARUTILong
by SANJAYPATIDAR_
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