SSWL - Ichimoku BreakoutStock Name - Steel Strips Wheels 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 271
#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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SSWL
SSWL, Steel strip for Long term#sswl
Steel strip wheels Ltd.
One of the biggest alloy and steel rim player.
Some renowned names hold stake in it (Tata steel, sumitomo metals)
Customer base has names of Kia, Tata, BMW, honda.
Holds more than 50% market share in each and every segment.
Currently under pressure due to automobile Sector weakness, good time to start accumulation.
Technically,
After breakout it has completed retest.
Pullback was also till fib support.
Can add at these levels and keep on adding on dips till 700.!!!
And, have patience with this one.!
Fundamentally there are few red flags, hence I am not keeping it on top 75% of my portfolio.
Kindly DYOR
#vr
FY21-22 Swing Trade Idea #99: Long on SSWL This is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.