THERMAX on imp level!!!!!!After creating a double top thermax closed at neckline...all we need to do is wait for the break and retest in order to enter swing sell....this is not sure shot information it could possibly reverse as well...so please do your own analysis before taking trade..this is just my knowledge that i am sharing with u guys take it as a knowledge purpose...i hope it will help you understand market potential... THANKYOU:)
THERMAX
Chart Of the Week !! 14 March 2021 !!* Two chart pattern completing at the same time (Cup & Handle and Rectangle ) in Monthly time frame High conviction set up . Just before the breakout of C & H pattern made a rectangle pattern also .That very much convincing the reliability of breakout .
*Price has also trading all the important moving averages.
*If we look at the volume part, significant volume activity is witnessed at the time of breakout.
*Considering all technical evidences we may see good up move in Thermax Limited.
*Time period - 06 to 12 Months Target of 3000.00
Kindly Let us know if you have any question.
THERMAX (Rectangle Breakout Possibility) ONLY Above 796
Target 1 = 832 4.5%
Target 2 = 873 9.6%
SL = 775 2.5%
In the absence of breakout wait for entry near the base of rectangle
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
THERMAX BREAKOUT ON WEEKLY CHARTS.THERMAX Stock price has broken the crucial resistance around 945 - 960 on the weekly charts.
Short term moving average has Placed above the long term moving averages and It has been created a long term trend reversal on Weekly Charts.
MACD oscillator has showing strength and Trading above its signal and equilibrium line.
So One can Initiate a Long Position in NSE:THERMAX At CMP for a Target of 1140 With a Stop loss Placed at 937.