NATPEROX Weekly breakout & 52W Highit is at 52W high and given weekly breakout of Ascending triangle at 2365 range. sustaining above this level on weekly candle, gives open upto 3000 levels.
RSI is at 75 on daily.
ADX is at 32, sloping upwards indicating good momentum.
NAPEROL trade ideas
NATPEROXNote:
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National Peroxide Accumulation done, Ready to MoveAll observations on chart.
Stock is consolidating since May 19 till today.
Even during crash and bull rally stock didn't participated either.
Expecting a good move here.
NATPEROXLooking for breakout, Volume is also raising with rise in price, 2250 is the price on daily chart.
Bullish Pennant in NATPEROXit is forming a bullish Pennant on Daily chart since May, a breakout at upper trendline could give 30% upside. it couldn't able to sustain above RSI 60 level. in the last 3 instance it failed sustain/break RSI 60 level. keep an on this stock for sustainable breakout.
Compression Breakout expectedNational Peroxide, monopoly in Hydrogen Peroxide market, from Wadias making compressed triangle pattern on daily as well as weekly charts. Expected a strong breakout. 2130 as first Target, as mentioned on the chart.
No recommendation, Do your own study.
National Peroxide on BreakoutNational peroxide has given a breakout from the inverted head n shoulder pattern which is a bullish pattern.
Risk reward is in favor of buying. Buy @ 2115, for target of 2740, keeping stop @1930.
Disclaimer: This is not a recommendation to buy or sell. Please carryout due diligence before buy/sell.
On short term support In the last run up the scrip could not cross 2260 on closing basis, went down and has now has found short term support for the next move. It has to close above 2300 and if it does so by early December, the counter will turn bullish.
BulishThat the stock closed above 2075 today is a matter of solace. I expect the scrip to show now bullishness and may cross 2275 by mid October.
NATPEROX - Long idea....Levels mentioned in the chart
Tradeplan R:R 1.4:1
Buy Quantity = 16 Nos=40000
T1 - Book 8 Nos
T2 - Book 4 Nos
T3 - Book 4 Nos
Max Loss on 40 Nos if SL hit - 250*16=4000
Potential profit
T1 - 250*8=2000
T2 - 350*4=1500
T3 - 550*4=2200
Consolidating within range and positive bias in the short termSupport 2768, target 3338 in intermediate term.
Holding supportHolding support at 2972. If it turns bullish a level of 5000 can not be ruled out in intermediate/ long term.
Appers bullishSupport is at 2650, present target is 3100. The stock is exhibiting positive bias and expected to move up to its target after consolidation, shortly.
Showing bullish trendIf it maintains bullish trend, a resistance is there at 2615. If it is able to cross 2626 on closing basis by 01/03/2019, a target of 3090 can be had for intermediate term.
Has to cross resistance Will be bullish above closing of 2400 and a an intermediate target will be 2630. But has to close above 2400 and should remain bullish.
Below supportThe stock is presently below support and has to close today above 2400. In such a case if the stock shows bullishness, in intermediate term 2630 can be seen
NATPEROX : Should Find Support at 2900-3000Bearish : Should bounce from 2900 -3000
Next Support or Medium Term : 2590 - 2650
May recoup lost ground tomorrow. I hope the resistance will be crossed tomorrow if some bullishness returns. Next support is at around 2950
