UNITDSPR trade ideas
MCDOWELL.NSE:MCDOWELL_N
LET SEE THE PRICE ACTION : INVERTED DOUBLE TOP PATTERN FORMED.
LET BREAK OUT MEANS WE CAN EXPECT :
TARGET 1 : 670
TARGET 2: 700
I am a beginner to share market. i now only learning about that.
if my analysis is wrong pls tell me . i will correct it and learn form
PLS tell your opinion. about this stock.
date: 14/6/2001
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MCDOWELS has a great potential after the Break outAs we can see in the charts, the price is under consolidation for years.
One can enter when there is a Break out with a good volume.
Until then we will watch patiently and wait for the BO.
> A great trader says, the market is 10% buying, 10 % selling and 80% is watching, observing, collecting information.
GOOD LONG HAS GOOD CONSOLIDATION AND AGAIN NEAR TL MIGHT BREAK WITH GOOD BULLISH CANDLE ..CAN GO LONG FORMING SYMMETRICAL TRIANGLE
[Short Term]Symmetrical Wedge Pattern in MCDOWELL_NMCDOWELL_N trading in symmetrical wedge pattern. If it gives breakout of this pattern then possible it will give 800+ short term target and 1100+ for long term investment target.
Possible Trade:
Buy MCDOWELL_N Above 650
Stop loss - 515
Target 800(Short Term) 1100+(Long Term)
LONG MCDOWELLEnter in MCDOWELL between 525 and 495....wait for reversal with volume on lower TF........ No sl as it was for investment purpose....... Immediate target for swing traders will be around 660,750 and long term above 830 easily......levels are marked........ best buy if goes around 415
Triple Bottom BreakoutAbove 645 on Daily chart it should give the breakout. Twice have reacted in that levels and come down. Watch it
2 reasons to buy1) Downtrend resistance breakout.
2) Rounding bottom pattern.
Can be bought for a target of 650-655. CMP- 629
Please like and follow!
Happy Trading :)
PS- I always believe in trading in stock with good to medium fundamentals(can also be seen from my history of suggested stocks). The success mantra for trading is to mix fundamental and technical analysis to protect capital.
MCDOWELL_N Trendline BreakoutMCDOWELL_N Trendline Breakout with good volume enter with good R:R
*Educational Purpose only.
United Spirits is in a channel for a long time.United Spirits is in a channel for a long time. it can break at anytime soon. Be ready for that.
The stock volume is above 100D SMA for the last 6-7 sessions.
united spirits good upmove in the stock can go as high as 650 as the FMCG sector is also on a good move
Trade on breakout from the marked zoneLong if hourly candle closes above 603.
Short if hourly candle closes below 595.
Target 15 points from entry.
SL 10 points.
Good opportunity for medium termMcDowell looks good here at CMP with R:R ratio of 1:3 for short to medium term. One can manage his position as per the charts provided.
McDowell (United Spirits) Long CandidateDetails as in Chart.
Preferred Reasons to Hold and Accumulate the Stock:
1. Took Support at 40 RSI Levels few days back, Little correction could be on cards but still a Buy.
2. Stronger than Nifty.
3. Above 200 EMA for a long term long.
4. 550 around is a strong Demand Zone and out stop loss should be around 540.
