superb Setup in usha martin with multi year bo and flag pattern Last time I analyzed this stock but due to bad numbers stock plummeted to 90 levels. The volume in this counter is back and no near time even trigger to out match the technicals.
Multi year bo above 102.65 on friday closing basis and also flag patter on monthly charts (Possibility of success okayish) . SL of 95 should suffice
USHAMART trade ideas
Breakout in Usha Martin...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
USHAMARTIN - Multi-year Breakout - Huge potentialThe 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.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
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Breakout in USHA MARTINCHART -> USHA MARTIN DAILY SETUP
As per chart after a good up trend in Usha Martin, a good consolidation has been goin on. Today it gave a range breakout not far from 200 DMA and with good volume. Keep this in radar.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
#USHAMART USHAMART #RELIANCE #NIFTY #BANKNIFTY #IT #IOT #STEEL #USHAMART
Usha Martin Ltd.
NSE:USHAMART
NSE:USHAMART
CMP: 97.75
Short term quick target 107+
Long term higher expected.
SL: 89
Duration < 1 month
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
Multi year breakout in Usha martinMost of the stuff explained in the charts itself. Volume in the stocks has risen and is at multi year highs if you compare to last few years. Quick movement makes it high risk .
Disclaimer : This is only for educational purpose through technical analysis. One must do his/her own due diligence before taking any position in this stock
USHAMARTIN Monthly Minor correctionShort term reversal similar to January 2021, expecting 20-30% correction - possibly cup and handle pattern formation
Book some profits now and renter at 57 and 46 levels, based on price action at that level
Re-entry: 57, 47
Stop Loss: Close below 44
Targets: 90, 100, 130