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REDINGTON

REDINGTON LOOKS STRONG AFTER GOOD YoY resultREDINGTON after announcing good YoY result yesterday opened with a gap up and is trading above all R3 (Fibonacci). it has entered into a pervious channel that i had marked before the Small-Cap fall that happened on Wednesday. today it took support at the lower green support line and moved back up. also DAILY Heikin Ashi shows strength. keep an eye out for a breakout above the red line, or a break-down below the green line.
NSE:REDINGTON
by UnknownUnicorn21320139
Target 1 (40%) achieved in Redington (India). Target 2 is ON...This is follow-up on Redington (India). Can check link to related ideas. Target 1 achieved. More than 40%. Target 2 is ON. Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:REDINGTONLong
by MandeepSinghKohli
1
50%-100% Potential - Redington. Breakout anytime.I am so excited to share my fourth watchlist stock with you all today. It is required by you to read till the end to understand the strategy completely. Background on Charts The chart of Redington is at a very interesting point. The price fell from 126.5 pre covid levels to 59.1 on March 23 2020 crash. The price has been following a strict trendline that started on August 13 2020. There is something interesting thing that happened on 2nd Feb 2021. Until this day, the price was moving slowly up respecting the trendline however on this day, a massive volume took the price up 8.8% intraday and broke the previous all-time high to make a new lifetime high. Interesting one can expect the following day to show some pull back, however, the price went up by another 3.94% and made a new fresh high. Since then the price has been controlled by only aggressive buyers and merely a few weak hand sellers. Moving forward on 9th Feb 2021, another interesting thing stuck. The price opened at 1.618 Fibonacci levels of the March Crash and quickly corrected but still managed to somehow close at +1.3% The trade Fast forward today, the chart has made a Doji star on the daily chart. This was expected since we are around 1.618 fib level, and buyers are slowing down until there is a clear direction. However, stocks showing a strength like this is quite rare and it strongly recommended to buy every dip on this stock. Buy from CMP and add till 140. Buy 1 lot at CMP (163) x shares and add another x shares at 140. Buy Average: 151.5 for 2x shares. Let us assume x = 100, hence we will have 200 shares at 151.5 average. Total Investment: 30,300 Stop Loss: 126 (-25.5 points) Target: 207 (+55.5), 235 (+83.5) (move SL to 215), 302 (+150.5) (move SL to 277) Max Loss: 5,100 (-16.8%) Profit at Target 1: 11,100 (+36.6) RR on Target 1: 1:2 I am highly convicted that there is a high possibility of a successful trade here. The strength of the price convinces and quicker T1 fulfilment. P.S: I am not a registered advisor and for study purposes only. Please consult your advisor before investing.
NSE:REDINGTONLong
by ShekharChatterjee
11