SUMICHEM | Low risk bet - Looks good for 20% (Aggressive entry)SUMICHEM | Low risk bet - Looks good for 20% (Aggressive entry)
CMP : 282
SL : 270
Target : 340
About 1:3 risk reward setup
SUMICHEM trade ideas
SUMICHEM: Long. Box(Consolidation) breakout with volumesSUMICHEM: Long
Forming a box or consolidation structure and every time previously the stock touched the upper line of the box it has corrected till the lower line but this time it didn't which shows strength in Buyers. Also, the elephant steps in the volume are visible which means someone is accumulating. Long with SL at 280. Can add till 290 or at CMP. If it crosses 325 then the sky is the limit
sideways market excepted don"t be tread in this stocktarget achieved avoid the stock
but if u want to try to tread in this stock after 10 days
long Parallel Channel Break Outfrom june consolidation happen today breakout so it ill go further upside
buy above 338
target 376
stoploss 311
SUMICHEM: 6 Months+ Parallel Channel Breakout! 🌋Trendlines are marked. Candle is extremely bullish and volumes are fantastic! Now on you shall buy on each dip to average. Its a sure shot boom!
Good Delivery VolumePositive news flow about price hikeBig positive for Sumitomo chemicals. Glufosinate, glyphosate prices rise on huge shortages. Sumitomo makes these products
Sumitomo Chemicals LongLooking good at CMP for target of 360.
- Travelling in a channel.
- Past resistance has now became important support. Retest to support also done.
Chart explains itself
Only for Educational purpose
SUMICHEM view - TL breakoutNSE:SUMICHEM Levels already mentioned..
Note:
1. Views are personal. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline not the big target...
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Sumichem near breakout... Watch for a big rallySumichem trying to breakout... Can rally big if it breaks. Watchout
Sumichem : Approaching Cup and Handle Breakout levelSumichem CMP 306.55
Froming Cup and Handle with neckline at 311.55
If breaks its trendline & neckline and sustains above 312-315, A buy can be initiated wsl 285 for the target of 360
