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...
SELF EXPLANATORY CHARTS MEDIUM TERM PICK 1-3 MONTHS.. BIG BREAKOUT SHOULD DO WELL
#REDINGTON BO on Weekly Chart Details on chart.
It Formed Double Bottom & 3 Yr Old Trend line Breakout !! Possible Target : 150 (HOLD ABOVE 135) Feel Free To Ask For Any Technical/Fundamental Query Comment Down Below Educational Purpose Only.
If Close Above 110 sustained, Can go High Trading Geeks
Moving in channel|. made a pinbar on its edge . cud b indication of another leg up.
Expecting 215-220. SL Closing basis 173
Redington broke out of multi year resistance and heading towards 150.
Redington India closed above the monthly resistance line which seemed more like a descending triangle pattern with an upside breakout. The stock seems to be ready for an upside move to test December 2014 high of 140 level. RSI above 50 is a good sign. Trading strategy : CMP : 109 Target : 138 Stop loss : Close below 92 Reward to Risk ratio = 1.70