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STEELCAST✦✦ BREAKOUT STOCK ✦ ✦ #STEELCAS CMP 828.60 The stock was in a long, 52-week consolidation phase before breaking out. 9-Week Small Base Formation 2x Average Volume on Daily Chart Rising EMAS Indicating Strength Entry Point: The ideal entry would be near the breakout level of 830-850, confirming the breakout above resistance with strong volume. Targets: 910, 1020, 1150 Stop-Loss: Set a stop-loss around 735, below the consolidation range, to manage risk in case of a false breakout.
NSE:STEELCASLong
by EmpireCrown
STEELCAS - Strong Base Breakout on Weekly ChartThe stock was in a long, 52-week consolidation phase before breaking out. 9-Week Small Base Formation: Before the breakout, the stock formed a 9-week "small base" near the top of the consolidation range. This pattern shows a tightening of price action, where volatility decreases and the stock consolidates in a smaller range. This formation often acts as a springboard, where price gathers momentum to break out above resistance. The small base also suggests reduced selling pressure and growing buying interest. 2x Average Volume on Daily Chart: The daily chart shows an increased volume on last day, with trading volume reaching twice the average on the day of the breakout. High volume on breakout days confirms that institutional buyers are likely entering, adding strength to the breakout move. Rising EMAs Indicating Strength: The rising Exponential Moving Averages (EMAs) confirm the underlying bullish trend. The shorter-term 20-week EMA, in particular, is sloping upwards, suggesting ongoing strength and upward momentum. Trade Setup with Key Levels Entry Point: The ideal entry would be near the breakout level of 830-850, confirming the breakout above resistance with strong volume. Targets: Target 1: 910 – A reasonable target near the next resistance. Target 2: 1,020 – Provides further gains if the bullish trend continues. Target 3: 1,150 – For a long-term position if momentum sustains. Stop-Loss: Set a stop-loss around 735, below the consolidation range, to manage risk in case of a false breakout.
NSE:STEELCASLong
by Profit_Trader25
Steelcast cmp 799.25 by Weekly Chart since listed*Steelcast cmp 799.25 by Weekly Chart since listed* - Weekly basis Support at 700 > 595 > 500 with Resistance only at ATH 834 - 3 Times Bullish Rounding Bottom instigated upside Breakout above Consolidation Range - Stock consolidated for over a year between July 2022 to July 2023 before making breakout - Stock again came under consolidated from August 2023 to August 2024 before the breakout - Stock now seems testing retesting upper band of Consolidation Band at 700 to 725 price range - Stock Price seen to be sustaining well above the Falling Resistance and Rising Support Trendlines - *One may anticipate New Lifetime High Milestone in the making soon enough basis the Technical Chart Setup*
NSE:STEELCAS
by PIYUSHCHAVDA
34 # SteelcastNSE:STEELCAS Looking strong as 1. Stock has given a breakout above it's all time High in the Daily time frame 2. Bullish Crossover: EMA 20 higher than EMA 50 3. Stock consolidating in the Rectangle pattern and daily closing above the box range for last 6 months 4. Breakout with Huge Volume if you liked it please don't forget to follow me #Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education purposes.
NSE:STEELCASLong
by p18amanr