TIDEWATER - Bullish Ingulfing Pattern Formed at Support LevelTide Water Oil Co. Ltd. is a top company that makes and sells lubricants in more than 65 countries worldwide. In India, it has been serving the automotive and industrial markets since 1928 with its brand "Veedol."
* Stock is already in uptrend and is now facing a minor correction.
* In the last trading session it has formed a bullish engulfing pattern at support level of 2200-
2225.
* If you look at the weekly chart and draw a Fibonacci retracement, then the current price level
0.5 level of Fibonacci retracement, which is another good sign as it acts as major support level.
* Both FII and DII has increased their stake in the stock in June quarter vs March quarter.
FII - 1.98% in June VS 1.51% in March
DII - 1.23% in June VS 1.22% in March
* We can expect a short term up move up to 2500,2600, 2700 levels in 4 to 8 weeks time period.
Tidewater
Tidewater stock within the chemical sectorTidewater in the chemical sector refers to the phenomenon of water that flows or rises and falls with the tides. In the chemical sector, Tidewater may symbolize companies involved in the production, distribution, or processing of chemicals that are affected by market cycles and trends.
Investing in Tidewater stocks within the chemical sector can provide opportunities to capitalize on market reversals and fluctuations. These stocks may demonstrate resilience and potential for growth over the long term due to their fundamental strengths and market positioning.
From a technical standpoint, Tidewater stocks in the chemical sector may exhibit favorable chart patterns and indicators, suggesting potential for upward movement. Additionally, their long-term fundamentals, such as strong financial performance, innovative products, or strategic partnerships, could provide a solid foundation for sustainable growth and profitability.
Investors interested in playing reversals in the chemical sector may consider Tidewater stocks as a viable option, leveraging both technical analysis and fundamental research to make informed investment decisions. However, as with any investment, thorough due diligence and risk management are essential to mitigate potential downsides and maximize returns.
Again Buying Opportunity - TIDE WATER OIL Stock Tested the levesl of 12999 on NSE and with some correction or we can say Profit booking it is again ready to Fire...
My own next Target is 13000 Second target is 15000 and if sustain above this we can see again big targets like 20k ..
You can check my previous idea about this script target of 13k hit like 1 min Spike ... but not sustained and from that level we saw profit booking..
Buy On CMP
TARGET 13K/15K
SL - As per ur risk
Do like and comment my idea..
Always Be Bull in the market...Not Bear...We all no market is not gonna stay on this levels forever ..so make ur view bullish...
#PETRONET CMP247 #Target 271(10%) #ioc #ongc #tidewater #bpcl #PETRONET
NSE: PETRONET
CMP 247
Target : 271
SL 238
Time Frame < 2 months
Can hold the stock for longer time after part booking.
Factors:
Trend Following
Inverted Head & Shoulder Pattern.
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.
PEER COMPARISONS:
NSE: ONGC
NSE: TIDEWATER
NSE: IOC
NSE: OIL
NSE: HINDPETRO
NSE: BPCL
NSE: PETRONET
NSE: SUPPETRO
NSE: CHENNPETRO
NSE: RELIANCE
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With 💚 from Rachit Sethia