Graphite India has broken out of a large symmetrical wedge. The stock looks poised for upward thrust.
If the market permits a retest that would be a great opportunity to enter the stock
The Gann angles drawn from the top which was formed on 10th August 2018 Graphite treaded under Gann influence of this resistance for the last six years. Today it has crossed the resistance when it closed above 650. If it manages to remain above this shadow for sometime, it may test a level of 940 by August 2024. 619 will be a good support till then.
D+W+M above 60.
Triangle breakout on monthly pattern
Reached fibo level of 0.50 and sustaining above it
next fibo level 0.618 golden level is 740 if sustain above it, it can go to 1000 level
Bollinger band squeeze is also opening on monthly chart.
first and second target marked on chart.
SL on monthly chart would be 430-450.
NO BUY OR SELL RECOMMENDATION. ONLY...
Reason for long
a) Weekly breakout possible
b) Entry criteria: Above PDH and first 15 min high( first 15 min candle is to be bull candle)
c) SL compulsory
d) Volume spurt
e) QQE burst
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Inverse head and shoulder Break out and retest confirmation on weekly chart. W pattern on daily chart.
Buy price: 630
Follow base Trent line as stop loss.
Graphite India Breaks Multiyear Resistance on High Volume, Poised for Further Upside
1. Multiyear Breakout: Graphite India has broken out of a multiyear resistance level, indicating a significant bullish move.
2. High Volume Confirmation: The breakout is supported by high trading volume, confirming the strength of the breakout.
3. Retest Completed: After the...
Graphite India is trying to break weekly downward trendline and also making a cup and handle. We can expect the price to move to 820-850. Other factors:
1. RSI above 60 on weekly basis and rising showing strong momentum
2. MACD is also on verge on breaking
3. Buying volumes are higher than sellers
4. Graphite India acquires 31% stake in Godi India
"Clean Charts,...
Strongly forming Higher High,
RSI confirns the Strength of Upmove.
Triangle Pattern Breakout on Strong Candle Basis.
Good to Hold for #shortterm to #longterm.
Have your own analysis and maintain your RISK REWARD!
Graphite India Technical View
-After consolidating for almost 50+ days, Graphite India gave a fresh breakout.
- High volumes
Long view after breaking high of breakout candle with candle low as stop loss.
Only For Learning, Keep on radar.
Happy Trading.
