The company has been showing good profit and numbers.
We can see the pricing is moving in a channel type and the price always bounces back from the support so we can look for a buying opportunity if the price comes at the support level.
A consistent up move can be witnessed with consistent good profit numbers shown by the company.
Market Cap
₹ 7,525...
Self-explanatory chart and title. Volume is also good on the breakout. Can be bought for a target of 362-363. CMP-339 and SL will be 326 on a closing basis. A 1:2 Risk Reward ratio. Do follow for more swing trading ideas.
The stock was given at 339 and today it hit the target of 363. HIT the like button if you liked my analysis and do FOLLOW for more swing trading ideas. For reference, I am attaching the idea suggested below.
BUY GUIDANCE:
Never buy before 3PM . I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
SELL GUIDANCE:
Selling in...
Falling in VCP. Keep an eye, can blast anytime! Shown strength in falling market, look at falling volumes! Good RR. Catch t before the BO happens, and add 2nd tranche post BO
Orient Electric has formed a cup and handle formation on daily charts and closed with high buying volumes on Friday. Possible targets here are 354/380/400+ with 298-300 as good support. Reversed from 50 day EMA of 307.
Simple Trend continuation Pattern.
Retesting of pattern is still pending.
Location of pattern is important. Continuation pattern must be preceded by a up trend.
Pattern if formed at near high levels, works out very well.
Orient Electric has formed a cup and handle pattern on the daily chart and has given a breakout. It can give 20-25% upside from the current levels. ( For educational purpose only).
