-broke 11 month upper trend and resistance
-formed base then moved upside with gap
-broke parallel zone and now retest also done in that area
-it can give good return above 1050 keep in radar
I see signs of selling exhaustion as well as accumulation at these levels.
A symmetrical triangle breakout has been witnessed along with a retest.
MACD is also showing positive signs here.
The stock is consolidating near the horizontal resistance and there can be seen volume uptick too. Stock provides good RR with sl being below the recent consolidation at indicate with the red line.
NSE:GOODLUCK
Technicals:
--> Stock nearing an all-time high
--> Price is climbing steadily with increasing volumes
--> Base formation will complete at the all-time high
--> Relative strength stronger than the benchmark
Fundamentals:
--> ROE/ ROCE ~ 16-17%
--> Debt to equity ratio is fair (1) with a good interest coverage ratio (~3)
--> No promoter pledging
-->...
This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. ...
