INDOBORAX (Indo Borax and Chemicals Ltd)- AnalysisBullish Levels -day closing above 189 (early entry risky) then 204 then 232/262/289 (safe entry if day closing above this) long term targets can be around 1300+ some intermittent targets are marked on chart
Bearish levels :- Day closing below 145 SL for swing trade then 117 strict SL for Long term Investor below this more bearish.
**Consider some Points buffer in above levels
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INDOBORAX trade ideas
INDOBORAX - All time high breakout INDOBORAX made ATH breakout with good volumes, we can but at current price and rebuy if price falls to 235 , 231 levels.. with SL @ 227 on Daily closing basis
Targets : 255, 275
Chart also made cup pattern, it might form handle too... If you want to follow cup and handle, then have SL @ 210
Note : I'm just sharing my view, not a buy recommendation!
INDOBORAX-Cup and Handle -DailyINDOBORAX-Cup and Handle pattern, which is a bullish continuation pattern.
Neckline/Support: The neckline is marked at 210. This is a critical support level.
Cup Height: The height of the cup (68) from the neckline is 278. This measurement can be used to estimate the potential price target if the pattern completes successfully.
Volume: We saw some volumes during breakout, and today there was very high volume.
Long-term InvestmentIt's weekly time frame strategy for long term ... Entry when price bullish cross super trend level.. 1st target 40% share book @ 40% gain, 2nd target 30% share book @ 40% gain from 1st target... congratulation your investment is back with profit.... and also you have 30% share which is free of cost, so you can hold it for life time If you want
IndoBorax - Fibonacci Targets in sight after Breakout - DailyIndo Borax & Chemical Ltd. has recently broken out cleanly from a descending trendline. The Fibonacci retracement levels provide clear targets for the upcoming price action, making this an interesting setup.
Technical Analysis:
Descending Trendline Breakout: The stock has decisively broken out from a descending trendline, indicating a shift in momentum from bearish to bullish.
Fibonacci Retracement Levels: The Fibonacci retracement levels drawn from the recent high to the low indicate potential resistance and support levels. Key observations include:
Support at Fib 1: The price took support at the 1.0 Fibonacci level (₹171.10) post-breakout and bounced off strongly.
Resistance at 2.618: The stock faced resistance at the 2.618 Fibonacci level (₹213.59) but has since taken support at the 1.618 level (₹187.33).
Potential Target Levels: A daily close above ₹213.59 opens up the 3.618 level (₹239.86), with the previous high acting as another target at ₹232.21.
Volume Analysis: The breakout was accompanied by a significant increase in volume. The Volume has spiked again today.
Key Levels to Watch:
Support: ₹171.10 (1.0 Fibonacci level) and ₹187.33 (1.618 Fibonacci level).
Resistance: ₹213.59 (2.618 Fibonacci level) and ₹232.21 (previous high).
Bullish Divergence on Weekly
On the Weekly chart, you will also notice that there has been a Bullish Divergence where the price made a Lower Low, while RSI made a Higher Low, shortly before the Breakout.
The RSI seems to be on an upward trajectory since, as you can see in the chart below.
Let me know your thoughts in the comments. Please do Boost and Follow for more analyses!
Disclaimer: This analysis is for educational purposes and should not be considered financial advice.
Indo Borax & Chemicals Ltd | A Momentum StockIndo Borax & Chemicals Ltd | A Momentum Stock
was incorporated in the year 1980 in Asangaon and its first Boric Acid plant was established in the year 1981, followed by the establishment of a Borax plant in 1983.
Fundamentals: excellent
Market Cap =₹ 604 Cr. ROCE = 28.7 % ROE = 21.0 % Debt to equity =0.0
Promoter holding =52.1 % Quick ratio =10.7 Current ratio=13.7
Piotroski score =9.0 Profit Var 3Yrs =44.1% Sales growth 3Years =25.0%
Return on assets = 19.6 %
I shared my personal view so just take it as educational purpose and learn how to invest in momentum stocks and grow fast.
nugget ; it takes time but big money earn with boring way.
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