SELF EXPLANATORY SERIES : QUICK ANALYSIS ON SUMICHEM.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 any investment or trading.
SUMICHEM
#TIRUMALCHM CMP145.35 #Target 214 #MANGCHEFER #FCL #SUDARSCHEMWEEKLY CHART
#TIRUMALCHM
NSE: TIRUMALCHM
Long Term Investment
CMP 145.35
Target : 214.80 (~45%)
SL : 111
Timeframe < 90 Days
Can hold for longer time might reach 400s
Factors:
Rounding Bottom Pattern
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
SUMICHEMNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading.
BuyRange has contracted to the lowest in last 7 days. At the same time, price has breached yesterday's high. Volume had been seen on reversal from 270 but the price found resistance at higher level. These are the people who might have exited seeing bearish crossover of 20 and 65 below 240. I assume that supply has ended as price was unable to breach 269 and trendline. Buying can be done at cmp 282 to 285 with stop loss below 267 .
Disc : it's not an investment advice to buy or sell
SUMICHEM: Long. Box(Consolidation) breakout with volumesSUMICHEM: Long
Forming a box or consolidation structure and every time previously the stock touched the upper line of the box it has corrected till the lower line but this time it didn't which shows strength in Buyers. Also, the elephant steps in the volume are visible which means someone is accumulating. Long with SL at 280. Can add till 290 or at CMP. If it crosses 325 then the sky is the limit