Manali petro chemicals is very bullish for last few months and had gave awesome gains.
Again a breakout expected in this.
Needs nifty support for that and nifty is also looking bullish.
This post is for information purpose only.
education purpose only
IT seems like stock Resistance zone now changed to support & volume confirmation at breakout & long wick rejection may 14 can be seen.
good company fundamentally ..
nice breakout after 2018..
crude prices going up.. so beneficial in that way..
chart explains my trading plan..
this is my own trading plan and view.. only for self tracking..
charts are self explnatory
by timing got good entry..
charts were not working because of market hence couldnt post anything
should hit one more circuit tommrow or atleast 10% up
MANALIPETC- daily chart trading between the triangle pattern and currently stock trading at 38.70 level and stock started forming volume from support with morning and now possibly stock can break 38.70 level and sustain above this, and we can see possibly movement towards 43.00/48.00 levels in coming days with the help of 34.00 support level.
Could be a good investment opportunity above 36.85.
Buying around 36/38 (if it closes above 36.85)
With SL around 28.75 (day close below 28.75)
For targets of 52+ in short term.
The stock has broken out of the wedge and is looking to move upwards. SL can be at 29.50 and Target 40/42
This is just for educational purposes. Please reach out to your financial advisor before investing
Note: This is for educational purpose only.
There seems to be a bullish engulfing on the resistance turned support. Moreover, the bullish engulfing has come post first pullback.
RSI is 52 which is still in neutral zone. Buy above the high of current candle on closing basis.
