shalimar paints have two buy levels
1st is @CMP & 2nd is 152.55 on retest
1st target will be 161 & second will be 170
Trade as per your own RISK .
I'm not responsible for any kinds of your profit & losses .
I am not SEBI registered analyst
Reason for long
a) breakout pull back set up
b) volume is higher than previous bear volume
c) bear volume is very low
d) good engulfing candle
e) channel support
f) super vwap breakout
g) SL compulsory
For Educational Purpose..
#SHALIMARPAINTS
#SHALPAINTS IS READY TO BUY LONG
- On Monthly Chart Showing
--- Cup & Handle Pattern Breakout
--- After 6 Breakout
---- Huge Volume buying Months in Current month
Waiting Time 3-6 Months
Long Above - 200
SL - 160-170
Target - 210, 230 & NEW HIGHS...
Thank you
Stock at up trend
Volume also building
Target are mentioned in chart
Stop loss weekly low level of the stock
No recommendation for buy and sell
Crude oil price give advantages to stock move
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern:Broadning Wedge with Rising Channel
📌 Symbol/Asset: SHALPANITS
🔍 Description: Stock in around the support
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a...
Initial Scan
Shalimar Paints appeared in the initial scan because
1. Strong close within the range of 4 days.
2. Liquidity criteria.
3. Strong gain for the day.
Trade
1. It has broken anchored VWAP from the first significant pivot.
2. It has cleared the resistance zone.
Management
1. Set the first target at 172.
2. Set stop loss based on close below 10 ema.
Shalimar Paints seems to be in bearish hands. There is two possibility :
1. Reversal from 120
2. MACD takes support from draw trendline
Let's see which case Shalimar takes !!!
SHAIMAR PAINTS ....
1 - forming flag pattern in a day & weekly time
frame
2 - good volume
3 - good rsi momentum 64
4 - price trading above 20 MA will act as support
Stock Name - Shalimar Paints Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at CMP,
and more bullishness will be visible after it cross 165.
#This is not Buy and Sell recommendation to any one. This is for education...
Good breakout & closed above previous swing high.
Go long upto target of 10% to 17% .. Stop loss of below breakout candle on daily basis candle close.
Note : - Education purpose only not a call.
