Somany Tiles is consolidating well in the 15% range after a significant run up.
Anchored VWAP drawn from the last top is well below the current price acting as a support.
Volume profile from the last low shows that most of the action happened here in this range only.
Its a safe buy above the box or one can buy now if he can hold
The analysis is done on Weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself. This is a continuation breakout chart.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to...
SO MANY CERAMICS in monthly and weekly broken the strong resistance of 705 and in day bullish engulfing; If it opens above 783 and sustains above 819 in day it will reach the target of 966. Stop loss 705
Long somany after the BO of the channel. A Pole and flag pattern has been seen on charts. Target 680-700 with an excellent risk-to-reward ratio.
This is for your educational purpose only.
buy somany ceramics at cmp 513 sl 474 target 1- 590, target 2-650, target 3- 710.
Disc : It's not an investment advise to buy or sell. Do your research
Ceramics sector is gaining good momentum since last couple of weeks. Somany ceramics is also on verge of breakout on hourly time frame. Can go for long at CMP for target of 537-542 with SL of 488.
Long entry can be taken in somany after the BO of the TL. High probability trade. At the support level, the bullish engulfing candle has been seen. RSI also forms +ve divergence. Entry can be taken between 625-640 with SL of 588 for the target price of 730-755. This is for your educational purpose only.
The redline zone is a crucial support zone where price forms a W pattern
if we create an entry here with SL below support zone
then we can the next target up to the green resistance zone at around 33%.
buy above 950 in intraday and swing
keep stoploss 925 for swing
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical...
SOMANY is in good uptrend
SL, ENT AND TGT are as mentioned on the chart.
It can go higher levels if we calculate the target using the range calculation
