Shakti Pumps (india) Limited - Breakout Setup, Move is ON...#SHAKTIPUMP trading above Resistance of 4923
Next Resistance is at 5795
Support is at 3880
Here are previous charts:
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.
Shaktipumps
Shakti pumps-A long-term investment stock!Shakti pumps had given volume breakout of cup and handle pattern in weekly time frame
Stock is retesting the breakout and low volumes during retracement indicate the same.
If the stock bounces from this support of 950-975, one must not miss this stock for medium to long term. Levels mentioned on chart.
One of the best stock to invest in "Make in India" growth story.
Stock has given remarkable returns in the last 1 year and has the potential to give similar returns in coming years.
EXCITING BULLISH IDEA📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Rising Channel
📌 Symbol/Asset: Shakti Pumps
🔍 Description: Moment Stock with Strong Support, Law of polarity, breakout.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
Shakti Pumps - A Good Case StudyA Classic Wyckoff Accumulation Scenario.
Price ranged for nearly 6 months in the ~20% range.
There was a heavy buying imbalance (Demand) in mid-May that resulted in the price moving up ~40%, followed by a consolidation till now.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Shakti Pumps - Possible Breakout scenario Key highlights:
⚡️ Bullish market structure - clear formation of Higher highs and higher lows.
⚡️ Inverse Head & Shoulders pattern.
⚡️ Attempting to reclaim the flip level.
⚡️ Any pullback towards the 450 zones seems like a buying opportunity until and unless the price closes below the 450 level, decisively with good volume.
⚡️ The long target is 700 and higher.
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Will history repeat itself?Chart -> Shakti Pumps Weekly
After making an all-time high in 2018, the stock was in a downtrend and given a symmetrical triangle breakout at the bottom for a giant rally.
The stock becomes 3 times in a short time after the breakout!
This time the same structure has repeated!
After making an all-time high, the stock was in a downtrend and this week gave a symmetrical triangle breakout!
CMP: 547
Targets: 600, 700, 850
SL: 460 weekly close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Shakti Pump - CMP: 702It has given Trend Line breakout on Daily and Weekly chart with a v.good delivery volume . It has also given Flag Pattern breakout on the weekly chart. All oscillators are in bullish bios. ADX is indicating strength in the uptrend. We can expect a Flag Pattern price target up to 945 in Mid Term.
SHAKTI PUMPSNote:
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Keep an eye ladies and gentlemen. Cheers and Happy Trading