This week we will cover Vinati Organics as it had a very clear breakout on weekly levels. The chart is self explanatory and the company is definitely an investment grade company. Stop loss will be the downward sloping resistance line that the stock has broken which is currently around Rs.1360
Wait for the RSI to make a down move and a Stoch RSI cross-over. Sell for existing levels marked in the chart.
Low volume in green candle means buyers are not interested! So sellers will kick in soon.
Vinati Organics looking good as it has given a BO from a range with good vol
However, at current level,
Buying is not recommended
As R:R is not fav. Buy either in dip arnd 1180 or above 1240
initial SL would be 1145 or 1175 respectively
Target line are marked on chart
Disclaimr : This idea is for only educational purpose, please consult your financial advisor...
Vinati organics is in the resistance zone. Once breaks above the resistance trendline will give up move for 5%. I am trailing vinati since a very long time.
Let's see how the analaysis goes.
Thank you
VINATI ORGANICS BUY ABOVE 1121
SL 1065
TARGETS: 1140, 1152, 1165, 1184
IF Sustain above 1191 then 1215 possible
Posting for Educational purpose only
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