Redington cmp 223.50 by Weekly Chart viewRedington cmp 223.50 by Weekly Chart view
- Support Zone 208 to 216 Price Band
- Resistance Zone 226 to 235 Price Band
- Bullish Head and Shoulders made with neckline at Resistance Zone
- Kindly ignore the comment "since June 2022" as it got included from another chart
Redingtonanalysis
Redington cmp 245.26 by Weekly Chart viewAdd the stock to your watchlist for New ATH levels creation on the way
Redington cmp 245.26 by Weekly Chart view
- Volumes have burst out exponentially over last few weeks
- All Major Technical Indicators EMA, MACD, RSI trending very positively
- Weekly Support at 216 > 183 > 152 and Resistance ATH 248 and every New ATH
- Stock Price traversing within the Rising Price Channel and has hit ATH 248 last week
- Also Multiple Bullish Rounding Bottoms formed by considerate VCP Pattern too can be seen
Redington cmp 223.50 by Weekly Chart viewRedington cmp 223.50 by Weekly Chart view
- Support Zone at 194 to 199 Price Band
- Stock made back to back Bullish Rounding Bottoms
- Price closure sustained breakout well above Falling Resistance Trendline
- Weekly basis Support at 199 > 180 > 158 with Resistance only at ATH 238.46
31# Redington NSE:REDINGTON
Reason Being:
1. All time High Closing
2. Weekly closing above the resistance zone
3. Huge volume in last 2-3 weeks
#Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education purposes.
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REDINGTON - Ichimoku Bullish Breakout Stock Name - Redington (india) Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 180
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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Long REDINGTONNSE:REDINGTON
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
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.
Redington Retesting BreakoutWe have seen Redington giving a breakout after 6 months consolidation period after split. Due to current market situation we are seeing that stock is coming back to retest its breakout. If sustained we can get massive upside movement as its results are expected soon. If it breaks its support we might see possible levels in the channel where we can buy for long position.
Redington: Some key points to analyseRedington is looking to break away from consolidation. Need to lookout for price movement above 156.
Also, make a note of:
1) above average volume activity over the past few days
2) RSI at 57 with upward bias and...
3) Relative strength as it gathers strength to outperform