GRANULES trade ideas
Granules India: Strong breakout after a Long consolidationAggresive Investors : Can enter at the current market price for the targets of 380/395/405/430/440
Defensive investors : If monday's closing is above 367, candle formation is green with a favorable risk-reward ratio, then go long at monday's closing price with the targets mention above.
While the stop loss is at 340 on a day closing basis for both the kind of investors.
#TradeTheTrend#TechnicalPick
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⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Granules has Broken out of Bullish Flag Pattern on Daily ChartGranules had been moving in a Downward Sloping Channel from December 2020
.It had a strong support at around 299-305 range and started to gain momentum the past few days and today it has broken above the upper trend line smartly with huge volumes and is near to another resistance zone at around 367-377.
It has to cross this zone to reach the following targets.
T1-ATH of 437
T2-475
Granules India Ltd (Daily Chart) only for educational purposeNSE:GRANULES
Technical analysis: Granules India Ltd (Daily Chart) only for educational purpose
We are still in double triangle formation in Black trade line you can see in my chart,
I’ve marked red and green color as a support & resistance area.
Resistance Levels:
First resistance between 340 to 343
Second resistance between 359 to 365
Third resistance between 372 to 375
Support Levels:
First Support between 335 to 333
Second support between 326 to 324
Third support between 315 to 312
My Target: (Not advising anyone to invest after watching my chart this is only for education purpose)
1st Target – 350.00
2nd Target – 360.00
3rd Target – 370.00
RSI: 64.81 in Daily Chart (Positive Sign)
EMA: We are expecting Golden cross over as per latest news Granules
National Pharmaceutical Pricing Authority (NPPA) allowed a 50 per cent price hike on Ibuprofen drug mentioning it a one-time hike as an exceptional measure.
The authority has also allowed a 50 per cent price rise on Carbamazepine and Ranitidine drugs.
Friend please analyses before taking any action do not depend on my analyses it’s just for education purpose only and follow the proper risk management. If you like my Ideas please hit the 👍 LIKE button and share some of your ideas in comment section.
GRANULES 1W TF The stock has a volatile price action with most of the candles mirroring the direction of the primary trend
Price volume breakout of almost 8 month's of consolidating channel.
Above 367.15; Initial Target would be 420.
Fresh Breakout in GRANULESINDIA
Company has delivered good profit growth of 34.88% CAGR over last 5 years.
Consistent YOY growth.
Fresh breakout after accumulation with huge volumes.
Targets will be 403|428 in short term.
Market rumour
Granules India to be sold to PE funds. RJ (Big bull)/ Madhu kela & other big names are buying daily
I am not a financial advisor. Use your intelligence before investing.
How Breakout traders get trapped? Underlying logic:
1. The market already gave 11% in the impulsive move and created a high. Obviously, the momentum was fading out.
2. If you recall my lecture on market structure, you already know that after the creation of a high, we must come down to create a new higher low. The market cannot keep making new highs without creating a higher low.
3. There was a Bearish divergence. The price was moving up and up but the RSI was creating an equal high indicating that there isn't enough buying pressure. (I have already covered this in my older posts)
Psychology and Behind the scenes stuff:
1. At the point of BO, there was only a round bottom, so nobody would have thought of it as the cup & handle pattern.
2. After the BO failed and the price dropped and formed the handle, the retailers thought of it as a cup and handle pattern. Only after the formation of the pattern, you would think of it as a pattern.
3. But the BO traders already got trapped at the top. You aren't aware of this if you don't have knowledge
4. So, in the end, nobody really paid attention to the manipulations done by the institutions. This is how retailers are trapped.
Warning candles: Doji + Hammers + Bearish candles indicating that there is a problem with the follow-up. Relatively good volume on hammer & doji, which is never a good sign for a breakout. It indicates significant selling pressure. A bullish breakout must always be accompanied by a good follow up, else it cannot sustain. Bullish BO needs good bullish candles, NOT dojis.
P.S: I am not saying the fakeouts can be avoided. But there are a few cases where fakeouts can be avoided. Also, this is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Granules Waiting for Trendline Breakout {Bullish}Entry : Only If Price Closes above 355 level
SL : 320
Tgt 1 : 400
Tgt 2 : 440
>> Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only ********
>> Visit My Ideas Page for Daily Stock Analysis & check my previous stock analysis how accurate they are for Swing and Intraday Trades.
How to read charts like a pro - Granules 👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 2000 Followers 🔥🔥
Self-explained chart: Multiple patterns educational video
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Wait for the breakoutIt's a very nice setup buy or sell it will depend on the future price action.
When to buy -
If the breakout is on the upper side.
When to sell -
On the price breakout of the counter trendline.
ZOOM IN FOR A BETTER UNDERSTANDING.
