TRIVENI BREAKOUT buy MODE ON Triveni Engineering and Industries Ltd is an Integrated and diversified conglomerate in the areas of sugar, ethanol, and engineering.
The Stock has given a successful breakout of Flag and pole pattern, falling wedge, and a consolidation of six months.
You can make an entry with R:R :: 1:2.
I am expecting Triveni to go bullish.
Reason:
Bullish Flag and POLE breakout to the upside.
Taking support at the VWAP indicates a good sign to enter.
RSI crossing 60 to upside shows good bullishness.
Successful breakout after six months.
High volume is traded on the last day, which shows a lot of interest in stock buying.
Price > EMAs show bulls are more powerful than bears. We can make an entry.
Taking successful support at 200 EMA with good buying interest(volume spike).
Verdict : Strong Bullish
Plan of action :
BUY: 350
Stoploss: 327
Target: 400
Trailing SL: 10 or VWAP or logical
