SHIPPING CORPORATION cmp 140
stock is ready to give nice breakout in coming weeks.
one can enter with 25-30 % allocation of desired budget for this script.
Range is between 124 to 145
once stock start to sustain above 145 we may have more confirmation to add more qty
purely positional trade idea
Technically Sound to go up at bottom of Uptrend channel.
Oversold past few months.
Buy only after huge Demand and Retest around 300.
Fundamentally, Good outlook to produce profits as Crude oil shipping has seen increasing demand with backbone of Manufacturing requirement output higher than 2020.
Risk Within your apetite only!
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...