STLTECH Looking for breakoutTaking support at 128 on monthly chart. Breaking trendline at 144 on Daily and Weekly chart. Allow weekly candle to complete. Wait for retest and buy at breakout.
STLTECH
Keep a watch on Sterlite Tech!Sterlite tech is looking strong as a positional trade.
Recently, we have seen a good run in Birla cable as well which is a competitor of this company in manufacture of optical fibre cables.
Stock can be added at CMP or on dips till 155. SL is below 140 WCB.
Minimum target is 200. Above that stock can go till 235, 280 which are the fib levels as well as strong supply zones.
Today, stock has shown good buying with volumes bouncing from a strong demand zone of 145-150 with a short term trendline breakout as well. Keep this stock in your radar.
Idea shared only for educational purposes!
STLTECHSTLTECH:- Stock may showing ascending triangle pattern, if gives breakout and sustain then plan can be made
You can plan the trade as per your risk appetite now
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
Intraday Trade: watch for resistance breakoutbuy above 320 in intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
STLTECH near breakoutNSE:STLTECH
Everything is clearly illustrated in the chart
STLTECH is about to give a huge breakout:
We can see multiple patterns forming in the longer time frame (Weekly chart) that include:
Inverted H&S Pattern
Cup and Handle Pattern
Rounding bottom pattern
The volume is also contracting, it seems to be on a verge to give a volume burst
The stock is expected to go higher once it crosses the resistance in the zone of 310-320
So, enter once it crosses the level mentioned
SL = 265
T1 = 400
T2 = 500
T3 = 600+
To motivate me, Please like the idea If you agree with the analysis.
Happy Investing 👍
Warning: This is just an educational idea, consider your financial advisor and make a wise decision accordingly, you are solely responsible for your P/L
STLTECH Bullish Trend Alert STLTECH
1 . round and rising wedge pattern breakout done
2 upside movement of big rally 3 level target
Range of STLTECHSTLTECH is in rangebound. One may look to create positions for long term, if such range is to continue.
