Looks good on daily and weekly charts.
Breaking out after 4 years. 4th attempt in progress.
Volumes are above average.
RISK: Breakout candle is not showing confidence. Having wick from top.
Will wait for a good confirmation.
If day closing is in green, will add partial trading qty.
buy above 590 and can add in dips till 555
stoploss below trendline safe player can keep sl below 520
target 660, 780
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
PSP PROJECTS as per daily chart analysis Stock above 588 Target 594. Resistance at 595.
Being Friday 28.01.2022 its always been a Investors Profit Booking Day.
Considering two days bulls fight back Nifty might Trade between 17065 - 17219.
If Nifty opens Above 17150 then Resistance at 17219 / 17283 / 17313
If Nifty opens Below 17000 then support at 16936 / 16864 / 16775
The upper zone has been acting as a consistent supply zone for this scrip and it hasn't been able to break it out. On daily timeframe, stock bounced back very nicely from 200 EMA and I'm expecting that this supply zone will be taken out this time and it will act as a demand zone once breakout is done.
Buy above 560 DCB with SL 460 DCB
Immediate Targets: 600,...
The stock has broken out of the pattern with very high volumes.
Looks likely to cross its 52W high soon for targets of 560 and 595.
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Weekly and Monthly MACD crossover may help to reach the target level. Indicators are showing positive signals on weekly chart. Safe traders: Buy after breakout on closing basis.
Cmp - 444
Stop - 390 on DCB
T1 - 530
T2 - Open, Review at 530
Expected Holding Period - 80 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing