GRAPHITE trade ideas
Graphite turned bullish
It is not likely to touch the support of 5 months at 772 in this run down since the stock has turned around on Friday. Now Support is 774, target 938.50
Graphite indiabad news after inspection
tenkon below kijun
short below 950
target 920 then trail stop loss
levels mentioned in fib extension
Graphite India Short sell for intradaySell Graphite india for intraday you can find levels in charts
Graphite has broken support lineGraphite has broken 1/2 ascending angle support line on closing basis. Tomorrow it has to recoup the lost ground to remain bullish.
May start to move up nowThe channel formed since 5th June 2018 till date is still seems intact. This an hour chart in which minor spikes are captured in the chart. The bottom green line is the 1/2 line, a line considered very bullish. The channel line and ½ angle has a confluence tomorrow and the stock is likely to see the bottom at 997. The up move is now due. Target in this run up 1220
Toeing the channel bottomToeing the channel bottom line for the last three trading days. Up move imminent?
Graphite returned from channel boundaryThe upmove is expected to continue now, I expect a move up to 1185 in this run up.
Time has come for turn around prbablyMay temporarily go down to 967, however it seems, up move imminent.
Formed channelIf this channel is maintained, a level of 1185 can be seen in this run up. 1/1 resistance is at 1058.65
Cosolidating within channelGraphite: Monday we may see a bottom of 968, if channel is not broken. 1/1 line is at 1047.60 and the stock will go to bullish mode once the 1/1 line is crossed
Yesterday It held on the support.The channel has also been touched, now we can expect up move up to 1160 from here in short term.
Consolidating with a bullish trendFor the last six trading days Graphite has been trying to break the channel but has not succeeded so far. It appears a strong base has been formed around 1080 to 1100. While 1/1 angle support is at around 1040, the channel has a downside at around 1000 and the stock's temporary down side to 1000 can not be ruled out. On Monday if 1033 is broken on closing basis, we may assume another breakout will take the stock to ATH and beyond.
Weekly chartIn the 47 week chart the stock shows a low point of 1030 in the next week while the upside is beyond the reach of serial UC's at 1800. Fresh entry can be taken if the stock revisits any level in the vicinity of 1025-1035
