The Chart pattern suggest bottom is in Place..Voila..!!Long term downward sloping trend line Break-out..Also triangle break-out...Morning star on monthly Chart..RSI also Suggests Momentum Picking up in the counter..So many ingredients for a perfect Recipe..CMP 203.85.. I would recommend going long for a Minimum 30% Gain for short term.
NOXWIND Inox Wind Ltd 04.4.2017
Date of Trade : 4 Apr 2017
Entry Date: Buy Stop
Stock: INOXWIND Inox Wind Ltd
Current Price: 174.60
Time Frame: Daily
Type of Trade: Swing trade
Reason For Trade:
Fundamentally strong stock
Technically the setup is ok except the price is below 50 SMA
Inox wind has shown a classic descending triangle pattern. The stock has also been performing poorly vs. BSE 500. Despite the recently concluded bull run, the stock did not get any traction. The accum/Dist chart also confirms overall weakness. The stock may be on the way to its life time lows.
INOXWIND: ₹178.60 is trading in a falling wedge, and currently at a double bottom support, in the apex ready for a breakout, most probably bullish. It is a safe entry with a stop loss: ₹170 for a target ₹210 & ₹320 and eventually ₹480
It is in heavy electrical equipment’s and a market leader with a 4000cr market cap and almost same in annual sales.
It is India’s...