The stock has formed inverse head and shoulder pattern on hourly timeframe moreover this pattern has been formed after a pretty long rally which also can be called as exhaustion phase which enhances further reliability in the stock for short term the stock can be bought it can fly till the 4600 levels
Stock has given good tl breakout and expected ath breakout also
And fundamental very strong stock with monopoly business
Good for long
Only for educational purpose
Bot for sugesstion
The stock has broken out from a long year rounding bottom pattern moreover is has broken with good volumes and during past few days it has resisted and major retracement which increases faith in the stock the stock can reach 3000 as fundamentals are also supported with the price pattern
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
Education Purpose Only... Please Consult Your Financial Adviser Before investing..
Please Maintain Strict Stoploss...
Book 70% at Target 1 and Rest Trail and Book at Target 2 ...
Don't Risk More than 1% or 2% of your capital in a single Trade..
Strong Breakout..
Good Volume...
Bullish..
The company is working on launching new products, including steel TMT bars and electricity derivatives
Increase in Net Profit
Increase in Sales
Increase in Operating Margin
Buy at cmp to 3040
sl close bewlo 3030
easy tg - 3100
tg2 - 3125
Not suggested
Disclaimer : This is my personal analysis for study purpose not intended for trading.
Fundamentally good stock.
good for long term holding.
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entry:1535/1600
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target-1600-1750-2080
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Analysis of this stock had already posted.
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refer old ideas.
stay for update.
A symmetrical triangle chart pattern is a technical analysis pattern formed by converging trendlines, creating a triangle-like shape. It typically signifies a period of consolidation or indecision in the market, with decreasing price volatility.
mcx creating a bullish price action making higher low create same resistance for intraday if break resistance it will go up #support resistance
note: only for educational purpose
Stock is rising in an impulsive manner of which 3rd is currently unfolding. Price are likely to continue it's uptrend towards 2900 and later 3500 in the coming months. On the downside Key level is 1700 which is the invalidation level.
