Stock has given a significant closing in today's session which sets slightly above the breakout levels, it is highly likely that it will give big bullish move from here so, a long call is recommended with respect to the stop-loss and targets.
Confirmed breakout on weekly charts, stock will look to test higher levels from here. These levels are good enough for anyone who wants to take a long trade with minimum risk. Buy is recommended keeping the levels mentioned on charts in mind.
Please see the chart for the levels. You can go long in FMCG stocks like ITC, Britannia & Hindustan Uniliver for small stop losses.
Will be sharing the charts of ITC, Britannia and Hindustan Uniliver for more clarity
there are three point taken out from the charts -
1) trend reversal like v shape recovery
2) increasing volume in recents weeks
3) all oscilators showing positive movementum like RSI,MACD etc
15 week base - flat base on daily and more of CUP on weekly charts after strong prior trend of 284%.
Good fundamentals. Sugar sector also moving in sync.
Retest after BO done. Need to hold BO line. Can go for 200 which is ATH.
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Levels are mentioned on the chart..
Know your own risk before invest.This is just my idea not an investment advise..
Check out my other ideas too..
Double bottom formed in reality sector.
W pattern or double bottom formed exactly near 0.5% retracement level
Same bottom formed in 2 times..
Very bullish sign. we can go long with same keeping same low as stop loss i.e 251.
Risk reward ratio is awesome here
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