Blood Bath in Stocks- What to do. I discussed what i have done and in the end a small strategy to control your risk and increase profit when there is sudden fall.
It can go in both direction, wait for confirmation first. Need good volume for breakout. This is a penny stock trade carefully. Graph is only for educational purpose.
Stock is in strong uptrend and forming rising wedge pattern
SHREEDIGCEM (WEEKLY):- CMP 74 LOOKS GOOD FOR 100/130++ 1) Follow Dow Theory :) 2) MACD (W) DIVERGENCE + Volume Buildup
Looks good. Breakout on weekly chart. Can see 100 in the coming weeks.
The entire cement sector is performing well. The effect of this boom will also be seen on it.
Symmetrical triangle formation. Lower highs and higher lows. Follow and observe stock for a breakout.
Buy at 61 with SL of 57. Previous support is working as resistance now. Once the same is crossed it will turn as support.
Price forming triangle pattern and before forming this it just breaks the all time high as shown in the picture. If this triangle pattern breaks up then one can expect a new ATH soon. Wait for it !!! If you find my analysis helpful . . . . . Please show your support by hitting 👍 LIKE button, Your Support is very much 🙏 appreciated!
Can buy with Proper SL
THIS IS MY POINT OF VIEW THAT THIS STOCK WILL DO BETTER PERFORMANCE IN UPCOMING DAYS (NOT TO FORGET THE STOCK HAS GIVEN A 16 YEAR BREAKOUTWITH HIGH VOLUME 5.6TIMES ) I CAN BE WRONG ALSO SO DO YOUR HOMEWORK (THIS IS FOR EDUCATIONAL PURPOSE AND A RECOMMENDATION)
16 YEAR BRAKOUT 3 MONTHS BACK Spurt in Volume by more than 5.64 times do your own due diligence
Levels Mentioned on Chart... Buy only if price Sustain above 60.....
Stock of the Week: #Shredigcem Industry: CEMENT & CEMENT PRODUCTS Sector: CEMENT AND CONSTRUCTION Entry Price: 56.20 SL: 47.40 Position Sizing: 21% Reason: Bounced back from 38.2% and maintain closed above 23.6% Fibonacci retracement zone. NSE:SHREDIGCEM