Multi Year Breakout - Retesting Done - Ready For New LevelsPositional Pick !!
All set for New Target of 1700-1850. Keep Accumulating
THERMAX trade ideas
THERMAX Long on D Time FrameStock was in a short term correction, broke out of D Trend Line(TL) with volume and Positive Covering Candle with a small upper wick, price closed above 50ema indicating a bullish trend, RSI is also bullish one can enter at Day High with a SL below TL.
NOTE: Price might retest TL or Fib level (marked in chart)
Enter @ 1440
SL @ 1377
Tgt @ 1525
Buy thermax1.Double bottom formation shows a reversal. When the sellers aren't able to push the price below any further, the formation of lower lows stop and thus it indicates reversal of trend. Target exactly comes at the nearest resistance at Rs. 1500
2. Second indication of a price reversal is the break of trend line.
3. Confirmation of higher highs and higher low formation.
Possible breakdown in THERMAX1) RSI making lower highs, thus confirming losing momentum
2) Bearish Pin Bar Candle
3) 50 EMA acting as strong resistance
*Positiional View* Took Support on Trendline Resistance Good R/RThis Stocks is in Uptrend in all Major time Frame Like Weekly and Daily .
Tested several times on Trendline Resistance and finally it broke resistance but failed to sustain above that Level .
Now, the current scenario is it took support on Trendline Resistance and if it sustain above that Trendline . You will be able to see this stock go 1800-1900 in 4-5 months time period .
Positional View : Thermax
52 weeks High : 1550
CMP : 1429
Industry : Heavy Electricals Equipment.
Similer Stocks in same industry BHEL, Powerindia, Swsolar.
Holding period probably 3 to 6 months
Please share your View about this stock in comment Section and please like it if you find it useful.
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Thermax breakoutThermax breakout on monthly chart..Monthly candle has closed over a Long term channel. Looks great for an investment purpose. With a very small SL below the breakout candle. Trade with your own risk.
THERMAX CMP 1399.15 Dated 12.3.2021THERMAX CMP 1399.15 Dated 12.3.2021
Flag pattern on daily chart, which gives tgt of
1775 sl 1335.
It is just a view pls trade at your own risk.
Chart Of the Week !! 14 March 2021 !!* Two chart pattern completing at the same time (Cup & Handle and Rectangle ) in Monthly time frame High conviction set up . Just before the breakout of C & H pattern made a rectangle pattern also .That very much convincing the reliability of breakout .
*Price has also trading all the important moving averages.
*If we look at the volume part, significant volume activity is witnessed at the time of breakout.
*Considering all technical evidences we may see good up move in Thermax Limited.
*Time period - 06 to 12 Months Target of 3000.00
Kindly Let us know if you have any question.
THERMAX|SWING TRADE|12/3/21Thermax is halting at really crucial level if it gives breakout can be a good trade .All the details about Trade have been explained in the video.This is just for educational purpose
Accumulation by Big Players Thermax
News: tech.economictimes.indiatimes.com
(Please go through the news)
TA: Accumulation zone, High Delivery, High Volume
Everything explained in chart
THERMAX (Rectangle Breakout Possibility) ONLY Above 796
Target 1 = 832 4.5%
Target 2 = 873 9.6%
SL = 775 2.5%
In the absence of breakout wait for entry near the base of rectangle
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
