Consolidation in Siyaram Silk.Falling Wedge Breakout in Siyaram Silk on Normal Volumes. It's been consolidating since last Two Years on Broader Timeframe. Hopefully it will Break the Range.
Siyaramsilk
SIYSIL - WEEKLY CHART ANALYSISAfter long consolidation of one and half year it has finally broke out the down trend line with volume support.
A decent contraction is seen on the left and up volumes shows accumulation.
Stock is trading above all its key moving averages.
A pilot position can be initiated here and another once it close above 661 level.
The supply zone ahead is the all time high zone 743-790 levels.
As per the trend based fib initial targets can be the supply zone / ATH levels (743-790) and then if it close with new ATH then 845 - 1050 - 1300 should be the levels in the long term.
This view invalidates if the stock close below 480-500 levels (swing low) on a weekly timeframe.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Siyaram Silk SiySil BreakoutBreakout with good volume after good consolidation
Disclaimer: Not holding.
SIYARAM SILK - DAY CHART - 22.01.2023 - BAHAVAN CAPITALSIYARAM SILK as per Day chart analysis
Stock ABOVE 580 TARGET 589
Happy Profitable Trading to All...
Siyaramsilk (SIYSIL) contra trade with explanationSiyaramsilk (SIYSIL) contra trade by understanding the simple price action and volume activity.
Simplicity in playing the levels at its best.
Siyaram on birth of Shri RamSiyaram Silk -> Weekly Setup
A wonderful inverse head and shoulder pattern completed and weekly breakout has been given by Bullish marubozu candle with volume spike.💪
CMP: 550
Targets: 740, 915
Stoploss: 400
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
