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DAAWAT - L T Foods: Strong PC BO with the strong retracementAll the three Parallel Channels (PC) are one and the same! PC-A = PC-B = PC-C The strength of PC-C is crossing the highs of Apr-22 levels for the breakout and strongly retraced the BO at 105 levels. The huge buying levels at in Apr 22 at BO of PC-B and at BO of PC-C are confirming the strength in the BOs. What I feel is, the overall market trend in Apr-22 had impacted the Breakout of PC-B also, and lead it for the resistance of 100 which was also the midline of PC-A The bearish view resulted in Breakdown of PC-B and lead to levels of 67, which is also the lower line of PC-C Yesterday's strong green candle with heavy buying volumes confirms the strong BO of PC-C For swing trade Entry: Coming opening levels above 105 1st target is 130, then 150 SL: The FAs and business model is strong, script is good pick for long term portfolio building. If view didn't go well, the levels of 85-90 are good levels to add.
NSE:LTFOODSLong
by ChartSarathi
INDUSINDBK (M)INDUSINDBK (M) is in an uptrend (ascending channel). An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterise this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows and an upper channel line that joins the swing highs. 1) An ascending channel is used in technical analysis to show an uptrend in a security’s price.  2) It is made up of two positive sloping trend lines drawn above and below a price series depicting resistance and support levels. 3) Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals. After a COVID FALL, INDUSINDBK is facing a resistance trend line which INDUSINDBK broke on the start of August. If INDUSINDBK breaks and sustains above 1250, then 1500, 2000, and 3000 will easily come in future uptrend months.
NSE:INDUSINDBKLong
by Charts_insiders