PATANJALI#PATANJALI
The stock took support at multiyear strong resistance.
We can see stock making new highs as volume is rising in
the stock, support of 50MA in weekly chart.
The ratio chart is also on breakout.
Patanjalifoods
PATANJALI FOODS By KRS ChartsDate: 21 August 2024
Time: 3:09 PM
Why Patanjali Foods ❓❓
1. All over Bullish Stock.
2. 3-Years old Upside Channeling finally Breakout.
3. Currently at All Time High price .
Target will be 2590 for medium to long term
SL can be 1655 Rs.
Patanjali Foods Ltd. Long tradeNSE:PATANJALI Good opportunity to invest in Patanjali Foods Ltd.
Place your orders after Breakout of the resistance line.
POSSIBLE BUYINGS-----
Case 1:
Buy : After breakout of resistance line @ 1050.
Stop loss : @995
Case 2:
Buy: At channel support @950
Stop loss: Below @900
Reasons to buy:
1: Patanjali foods is following a rising channel, at present it's trending at channel low.
2: Good support from the channel low (as shown in chart).
3: Good Risky to reward ratio.
Thanks
Disclaimer: This idea is only for the Educational purpose, Kindly invest at your own risk..
Patanjali foodsWe have seen a pole and flag pattern on the stock. Also, the stock is in bullish mode. Long above 1212. All important levels are marked on the charts. RSI levels above 60 are a sign of strength.
This is for your educational purpose only.
