The stock has broken out on the daily chart and has also broken out of a head and shoulders pattern as seen on the chart. One can look to buy on CMP for targets of 100-110 with a stop loss below 82 on a daily closing basis.
NOTE: NOT SEBI REGISTERED. THIS IS NOT AN INVESTMENT STRATEGY AND ONE SHOULD DO RESEARCH OR CONSULT WITH THEIR FINANCIAL ADVISOR BEFORE...
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
📊 Details
Confidence Petroleum India Ltd is engaged in manufacturing of LPG cylinders and is also a supplier of auto LPG in India with its network of bottling plants and Auto LPG dispensing stations across India. It also supplies packed LPG cylinders and is also engaged in LPG bottling catering to industrial and commercial customers.
Disclaimer: This analysis...
NSE:CONFIPET
cmp is 91.20
this is a good setup to study and find opportunities for making gains in coming months
This analysis is being done for educational and knowledge-sharing purposes.
This article does not offer any kind of buy or sell advice.
All stocks are positional and are held for a short to medium period of time.
Everyone is expected to conduct...
may possible breakout in confidence petro,
breakout after weeks long resistance.
greater chance of brekout , unless any bad news in market.
formation of of two downward cup since jan 2023, now breakout with retracement at support and again bounce at weekly chart .
adx indicator also showing possibility of positive upward movement .
(study and make difference)
CONFIPET
Based on Weekly Chart Pattern
Cup and Handle with Bullish Flag inside it.
Price got retraced and retested the breakout level. Cmp 85.
Now it's ready to rally to see New high.
Expected targets
Tgt 1 : 95±
Tgt 2 : 115±
Tgt 3 : 135±
Shared it for EDUCATIONAL PURPOSE. Not a BUY/SELL RECOMMENDATIONS.
💡 Company Overview:
Confidence Petroleum India Ltd is a leading manufacturer of LPG cylinders and a prominent supplier of auto LPG in India. With an extensive network of bottling plants and Auto LPG dispensing stations across the country, the company also serves industrial and commercial clients through packed LPG cylinders.
💡 Financial Performance (2017-2023):...
it broke out of a W weekly pattern then brokeout and took support on its 50 EMA as well as trendline and demand zone and bounced back and now ready to move violently.
Pure Price Action.
Take entry above 100
Target1 - 114 Short term
Target2- 148 5-6 Months
Have confidence and buy
Do your own Fundamental Analysis though.
