Honda India Power Products Ltd
The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation.
Pattern : Bottom Wedge
Shows two converging trendlines as prices reach lower highs and higher lows.
This pattern may suggest a slowing of downward momentum and a possible upcoming...
Active only above 2920
Fails below 2745
All prices mentioned are on daily TF closing basis.
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Greed and Speed are the worst enemies of a Trader/Investor.
In the Weekly Chart of HONDAPOWER ,
we can see that, it has a inside candle also it is at decision making point.
we can enter on breaking its High with Low as SL.
My expected momentums is shown in chart.
1. Multiyear breakout done
2. Retracement to support done
3. Created Flag pattern on Weekly charts
4. Breakout of Flag Pattern
5. Fundamentally strong company
Excellent Risk:Reward
Entered at 2100
Stop Loss - 1900
Target 1 - 2400
Target 2 - 2700
The counter looks strong on the weekly charts and there seems to have been a halt after an up move last week. It looks like it is getting ready for another move to the levels of 2900-3000.
One can look to go long on the CMP or buy on dips for these targets with an sl of 2300 on daily closing basis below which it turns weak.
NOTE: NOT SEBI REGISTERED. THIS IS NOT...
#HONDAPOWER - POTENTIAL BO
CMP : 1693.10
Disclaimer : We are not Sebi registered analyst or Authorized analyst
The charts / Levels / Price projections are only for educational purpose.
This is our personal view, Pls consult your financial advisor before taking decision - Buy / Sell
We will be not responsible for your profit and Loss
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