SADHANA NITRO: Consolidated from 90 to 80 levels and in the process formed double bottom .
The stock stands at its neckline break out levels. Double bottom and surge in stock price is an indication that the stock after a prolonged consolidation phase is gaining momentum and the surge In volume suggests a likely neck line breakout towards 100
Sadhana Nitrochem is looking good for long. Stock has given breakout of Symmetrical triangle pattern. Looking good for swing trade. Stock is under ASM list also. Trade accordingly
Key points :
> Golden Crossover of 50 DMA and 200 DMA
> Cup and Handle Formation
> Sharp reversal on Fibo Levels @ 61.8 on Daily Charts
> Bullish formation on Daily Candle sticks
> Strong Fundamentals seen increase in Revenue and production capacity
> PLI Scheme Approval also have got it from Ministry of Chemicals
> Immediate resistance at 68 and...
After breaching the overbought RSI indicator of 70; Sadhana seems to have found a new ceiling of RSI 94 twice. Is 94 the new overbought indicator for Sadhana?
Keep on radar!
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
SNCL has respected the last support at 141.50 a couple of days ago and today it has not tested the support but has gone up with an UC as of now. It should be above 180 by the 1st July to negate the down ward pull of the descending angle. For the time being with support of sustained bullishness 250 will be intermediate term target. In case of back to the...
however, one might get chance to come out of it around 208, 175, 141...
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
