Techno Elec: Breakout Above 1400Details:
Asset: Techno Electric & Engineering Co. Ltd.
Breakout Level: 1400
Potential Targets: 1600, 1720, 1830
Stop Loss: 1340
Timeframe: Short to Medium Term
Rationale:
The stock has formed a channel pattern and recently gave a breakout above 1400, followed by a retest and support confirmation at the same level. This indicates bullish strength and potential for further upside.
Market Analysis:
Technical Setup: Clear breakout from consolidation with volume support and successful retest.
Sector Trend: The infrastructure and power sector has strong momentum, especially with increasing government push for energy infrastructure.
Risk Management:
Stop Loss: Maintain at 1340 to manage risk if the breakout fails.
Position Sizing: Allocate capital based on risk tolerance and portfolio size.
Risk-Reward Ratio:
Attractive, offering a potential gain of ~30% with a limited downside.
If it continues to hold above 1400, Techno Electric may march steadily toward the 1830 mark.
