Stock Name - Sumitomo Chemical India Ltd
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 535
#This is not Buy and Sell recommendation to any one. This is for...
📊 Script: SUMICHEM (SUMITOMO CHEMICAL INDIA LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY 500 / NIFTY MIDCAP
📊 Sector: Chemicals
📊 Industry: Fertilizers & Agrochemicals
Key highlights: 💡⚡
⚠️ Keep an eye on SUMICHEM .
⚠️ It is near at its resistance zone which is around 500.
⚠️ Script is going to give double breakout which is trendline breakout and...
This is follow-up on Sumitomo Chemical. Can check link to related ideas.
Target 1 achieved. More than 9%. Target 2 is ON. Can give big move once price close above purple trend line .
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying...
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
bouncing from 0.6 fibo level which is previous breakout level as well.
can buy at cmp for target of 460 and 540
stoploss below 380(weekly candle low)
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
CHART -> SUMITOMO CHEMICAL WEEKLY SETUP
As seen per charts, there are few things to note:
1. In weekly time frame, it has given a beautiful flag and pole breakout.
2. Last breakout candle has been with marginally better volume.
3. RSI has gone above 60.
4. MACD crossover during breakout candle.
1. All Time High: 460
2. Flag and Pole target:...
stock after bouncing back from important monthly trendline line and moving out of daily time frame parallel channel.
chemical sector is becoming leading sector for this week.
entry- after some retracement
stoploss- at near range
target - partial profit at every peak
CHART -> Sumitomo Chemical WEEKLY SETUP
As seen per chart, it looks like Sumitomo Chemical is trading under a flag and pole pattern. Any side of the trendline breakout, may it be on the upper or lower, will decide the further path of the stock. For breakout it has to cut the trendline on a weekly close candle.
As per today's scenario a morning star, which is...
Sumichem / sumitomo
Volumes are nearly dead.
Expecting a spike soon.
Trading around support area.
Can be good addition.
Although in chemical play don't keep this one as major holding in folio.
In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing...