National 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.
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.
....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
T1 - 250*8=2000
T2 - 350*4=1500
T3 - 550*4=2200
National Peroxide Ltd. engages in the manufacture and sale of hydrogen peroxide. It also offers compressed hydrogen gas, per acetic acid, and sodium perborate. The company was founded on March 16, 1954 and is headquartered in the Mumbai, India.