Short Term Trading Opportunity in TNPL for 15% UpsideHi,
An bullish on-neck Breakout pattern emerged on the Daily chart of NSE:TNPL
MACD on daily, weekly and monthly time frame is on the bullish side and RSI is also on the bullish side, so expecting the bullish trend to continue.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose.
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TNPL
TNPLTNPL :- Wait for the breakout, the stock has also been consolidating at one place for quite some time.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Ajay.
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Long Setup in TNPLAn On Neck Chart Pattern Breakout happened on the weekly Time frame of NSE:TNPL
Price Action is well supported by the volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
Initiate the long trade only according to the levels mentioned.
Stop loss will be on weekly closing basis.
Trend Analysis :- UP Trend
Chart Pattern :- On-Neck Chart Pattern
Technical Indicator :- Positive MACD Crossover
Tamil Nadu Newsprint- Short Term PickTNPL - Tamil Nadu Newsprint Limited - NSE:TNPL
Daily Chart Analysis : SHORT TERM PICK
Technical Setup : As we can see on chart in recent few days market was consolidating with sideways to bullish bias with some improvement in volumes. With todays move and volumes now it seems that market is ready to blast on upside (just a matter of time) . The first target on upside is around 250 above which 275 & 290 will unfold. Initial Stop Loss to be at 200.
Trade Setup : Enter Long Trades on break above 227 with Initial Stop loss at 200 once the market closes above 245 levels move stop loss to Breakeven and keep riding upside. Investors in such stocks need patience , self-analyze your profile before you take the trade.
Fundamental Side : There is immense demand in all disposable paper segment market due to single use plastic ban in recent time. (Dont want to elaborate much as this platform is not for fundamental analysis)
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Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and your losses arising of above shared info
TNPL breakout. go for short term view. All breakouts and targets are mentioned on the chart.
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