Multiyear Breakout occured in VARDMNPOLY with a very good momentum. Now the multi year trendline has been broken. Good volume buildup is seen. The monthly resistance has also been broken.
CMP 83.05
Support 74
Tgt1- 112
Tgt2- 130
VARDHMAN POLYTEC has given trendline breakout (flag pattern).
1) Entry can be taken @CMP
2) TARGET : is 91,but 1st target Kan be taken as 1:3 RR. Total RR target is 1:7 aprox. That is huge.
3) Stoploss should be below the support zone.
Position sizing is most important.
Disclaimer : This Analysis is only for sharing my ideas and not suggestion for taking trade....
This has morning star pattern in sideways trend for short term So definitely going to go up. Reason for buying
1) Morning star pattern
2) The bullish candle on 8th breaks the resistance level
3) RSI corssed 60 after long time
3) A squeeze is happening and so definitely the sideways trend is going to break
4) MACD line crossed signal line
5) Volimes are good on 8th...
The stock might be a considered as party fund stock, with a great return in 3-4 year. If ur a risk taker and thinking of having a great return in 3-4years then bet on this stock. The stock might reach level above 50Rs in the coming Years.
The stock is trading around 14Rs and it's magor resist is near 80, so one can buy for long on their own risk.
