After the bull run, price retrenched to fib level at 38.20%. The fresh movement observed in stock, aptly supported by volume and moving average.
Stop Loss - Below support level ; Target 1 - Rs 109 , Target 2 - ATH
Daily chart
9 months of consolidation, afterward symmetrical triangle breakout. The stock perfectly retested that level and uptrend continued.
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Idea is Simple Invest in stocks which Breakout with Volume.
Rather than targeting 20% to 25% profits for most of your stocks, the profit goal is a more modest 10%, or even just 5%.
Rule 1 : Exit from the trade when current day closes below previous day low.
Rule 2 : Hold the Trade until the Rule 1 is not met.
Rule 3 : On result day trail your SL at 15Min Time Frame
BUY - MANALI PETROCHEMS
CMP - Rs. 70
Target - 1: Rs. 100
Target - 2: Rs. 137
Target - 3: Rs. 170
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Timeframe - 2 months - 1 year
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Technicals - Trendline Breakout
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This is just a breakout, by an expert analyst, please invest at your own risk.
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Reasons for Buy
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Candle stick patterns
Bullish Kicker Pattern
Morning star pattern
Inverted Head and shoulder pattern
Indicators
MACD 26 line crossed up by MACD 12 Line
RSI is steadily rising towards 60
Volume is suddenly increased. So may be somne big bullish players aqre entering the...
BUY - MANALI PETROCHEMS
CMP - Rs. 66
Target - 1: Rs. 92
Target - 2: Rs. 124
Target - 3: Rs. 150
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Technicals - Bullish Flag BO
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Note: Target 2&3 will be achieved within 1.5-2 years, while Target - 1 will be achieved within 1 year.
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This is just a view by an expert analyst, please invest at your own risk.
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Short Term Trade opportunity to earn good RRR
CMP: ~ 107 ( Buy @ ~ 109.5)
SL: ~ 98.8
Target: ~ 125.30 | ~149.65 | ~189 ( Swing Traders can exit @ T2)
( Targets calculated on the basis of Fib. and previous swings )
Disclaimer:
I am not a SEBI registered analyst. My studies are for educational purposes only. Please consult your financial advisor before trading...
