Date - 22 March 2024
Time - 10:30 AM
WHAT is,
1. VAH& VAL- The upper limit of the Value Area is called Value Area High (VAH), while the lower limit is referred to as Value Area Low (VAL). These levels can serve as potential entry and exit points for trades.
2. POC- The price level for the time period with the highest traded volume.
-As we can see, since...
Reason for long
a) Breakout pull back set up
b) Possibility of monthly breakout
c) Open=Low Set up
d) Good engulfing of 3 bars
e) QQE above zero
f) Fundas okay
g) Market leader
h) Profitable organization and diversified product
i) exploring in Energy sector
k) SL compulsory
One of the best trade with classic inverted head and shoulders formation.
This is once in a while trade and targets are humongous.
Do your own research before buying or selling.
Reason for long
a) Mr.14 Set up
b) Breakout pull back
c)Two day candle engulfing with volume
d) Super vwap set up
e) Good risk reward set up
f) SL compulsory
📊 DETAILS
Sector: Textiles & Apparel
Mkt Cap: 20,842 cr
Incorporated in 1990, Trident Ltd manufactures, trades, and sells Yarn, Terry Towels & Bed sheets, and Paper & Chemicals
TTM PE : 45.44 (High PE)
Sector PE : 26.49
Beta : 0.98
📚 INSIGHTS
Mid-range performer
Stock with medium financial performance with average price momentum and...
Trident has given a clean breakout of an important resistance with extremely strong volume support. Plus the sector as a whole has seen price increase in recent time which gives this trade more confirmation. One can accumulate the stock around 44 - 46 levels with a stop of 42. Targets can be good if help for medium term. One can expect retest of previous lifetime highs.
Go Long above 46.8 for Targets of 52.7, 55.65 and 58.6 with SL 43.85
Reasons to go Long:
1. On a daily timeframe the stock gave Trendline breakout.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
3. Also a bullish candlestick pattern Bullish...
A Fundamentally strong stock
it may turn out to be future multibagger
Rounding bottom on weekly chart
Trident:-
Buy at 24 - 30 - 35 - 42
Stoploss 19
Rounding Bottom Tgt 86
Swing Tgt 57 - 70
Long Term Tgt 100 - 200
Very long term Tgt 500+
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or...
Excellent chart pattern.
It has come out of resistance after 1-2 years.
Started making Higher Highs and Higher Lows.
Buy only above 47
Stop below 42.8 daily closing basis (DCB)
Target 1 - 65-70
Target 2 - 100++
Trident- Wonderful RB pattern formed. Gave a false breakout on daily. Currently at resistance of 48. If the candle close is above 49 this week, then quick upmove is seen to the first target of 57 and then to 70 and thereafter very high chances of higher targets getting unfold.
Team Stocks-n-Trends
