NELCO trade ideas
Nelco support at 200.close below 200-190 on daily is deadly.nelco is moving around 200-300 level since past 8 month ,200 is a near support for this stock.
any fall below 200 will be worst time for stocks.
no fresh entry in this stock ,one can watch for next few months .
dis: we don't have any position in this stock.
NELCO..cracking move..NELCO today moved above 300 resistance zone with huge volume..looks like can test all time high with time
was suggested around 285 now at 330..booked only profits and will add on dips..
buy on dips to 300
NELCO..strongNELCO.. has convincingly moved above all moving avgs in all time frames making it a strong buy candidate.
any dips to 200 dma can be a good buy
with the lower time frame abgs crossing the 200 dma, this can restest previous all time highs once it closes above 300..
Neloc : Momentum Yet to comeForming new support around 200-220
Entry @ 215-220
Sl 190
Target 350 mid term
Target long term 750/800
Nelco : Gearing up (Investment stock)Scrip is gearing up in ascending channel with higher highs and higher lows
Breaking out from ascending channel can make the scrip surge till targets defined. Rest in charts.
Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above-200 which gives strength to ongoing momentum.
2) CCI (Commodity channel index) - Above 100
3) BH>50% CH Candle. Thanks to Deishma for providing theory insights
deishman.wordpress.com
BH is Body Height of the Candle and is the Absolute Difference between Close and Open of the Candle.
CH is Candle Height of the Candle and is the Absolute Difference between High and Low of the Candle.
Take its percentage relation.
If BH / CH % is greater than 50%, it’s a BH>50%CH Candle.
_________________________________________________________________________________________
Aiming towards TP and beyond thereon after entry confirmation around 118
SL as per risk appetite
www.screener.in
Results are speaking for themselves wherein the Small cap company has shown substantial progress and is reducing debt, too
www.business-standard.com
Positional Longs | SL 74 | Tgt openGrab @ support for minimal Risk maximum Reward.
Prev chart structure bullish & invites positional longs @ cmp for further trend continuation
Buying opportunity in Nelco at CMP @ 129Nelco at 7 years breakout, Potentially good for long term. One can keep SL 106
